Editorial - November 2003

Economic recovery needs more spark

Published November 5, 2003

The stock market is up, economic indicators are positive so the recovery is here.

 We wish.

If you listened to many of the candidates seeking office in Tuesday’s elections, they were talking about the need for more jobs. The unemployment rate in Lincoln County was close to 8 percent at summer’s end. Nationally, the picture is bleak. See the AP story on this page about President Bush having the worst jobs growth record of any president since the Great Depression.

But things are looking better. Unemployment rates in North Carolina and in Lincoln County  are decreasing, slightly. Statewide the unemployment rate fell from 6.5 percent to 6 percent. In Lincoln County it dropped from 7.5 percent in August to 6.8 percent in September. At least it’s going in the right direction, though painfully slow.

This positive data is considered part of a recovery, but much of it relates to the time of year and students returning to school

“This time of year always indicates that we are getting more work again,” said Judi Morton of the Lincoln County ESC office. “I think the recovery is gradual.”

The statistics statewide show a very broad indication of less unemployment. September rates fell in 92 counties and rose in only three.

Analysts are saying the national recession is over. The nation’s economy is getting better and more consumers are spending more money.

But the negative part of this glowing message is the disappointing figures from the manufacturing sector, which is in a free fall. Manufacturing accounted for 23 percent of the nation’s total employment in 1980, but only 12 percent in 2002 as global competition continues to have an impact. The declining textile industry obviously has a huge impact on these figures.

What is needed to spark this recovery is the entrepreneurial leadership in the private sector that we have seen in the past. Leaders in the public sector can help make it possible with new ideas, new training programs, new incentives.

 One of the candidates for a Maiden town council seat raised some eyebrows when he said the town should market itself in the Wall Street Journal. At least, he is being creative. Our government leaders, our  economic and business development officials, and our educational institutions should put forth their own creative solutions to jump start this sluggish job market.

© 2001 Lincoln Times-News  

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