Dr. Andrew Brod, senior research fellow in the Center for Business and Economic Research, part of The Bryan School of Business and Economics, was interviewed by the News & Record regarding January’s unemployment data compared to a year ago.

According to the North Carolina Department of Commerce, the Greensboro-High Point metropolitan statistical area’s unemployment rate in January was 7.2 percent, down from 10.6 percent back in Jan. 2013.

“This is the first time we’ve seen such a flight from the labor force in many, many years, and now it’s just a phenomenon,” Brod said. “You cannot talk about these numbers without talking about the labor force.”

According to Brod, if you assume that those who left the labor force are still unemployed or gave up looking for work, then the unemployment rate today is closer to 9.4 percent.

“If we ever hope to get back to the kind of economy we had before, we can’t grow at a normal pace. We have to grow at the faster-than-normal pace,”  he stated.

This article is only found in the print version of the News & Record from March 22.