RALEIGH – As central bank economists, not to mention family households around the nation, wait anxiously for a bump in wages to match the rise of healthcare costs and the like, conservative economic policies enacted in North Carolina continue to put us near the head of the pack when it comes to growth.
The Census Bureau’s latest wage data report showed North Carolina had the fourth fastest median income growth in the country last year, up 4.5 percent after adjusted for inflation to $50,584. The national average was 2.4 percent.
The study found the ‘Charlotte-Concord-Gastonia’ metropolitan area had the highest estimated median income growth among the nation’s 25 most populous regions.
North Carolina’s unemployment rate is at its lowest point in 17 years at 4.1 percent. The national average is 4.4 percent.
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North Carolina also had two regions ranked in the top 3 for national tech job growth over the last 5 years in a recent study by the CBRE real-estate company.
In 2017 alone, North Carolina has earned accolades across a spectrum of economic metrics, including To 5 for business climate according to corporate executives; Best State for Starting a Business; Named Top 5 for Business by CNBC; and, #1 in tech-job growth.
As North Carolina continues to outperform it’s peers economically, the cause and effect relationship between conservative economic policy and economic growth becomes harder and harder to argue against.
Luckily, a Republican dominated General Assembly will likely continue the tax reductions and regulatory reforms that have enabled hardworking North Carolinians to better pursue their productive achievement and enjoy more of the fruits of that labor – despite the futile resistance of the Democrat in the Governor’s Mansion.