Employment figures released earlier this week by the state Department of Commerce show that the number of people employed in North Carolina increased by a total of 85,879 throughout 2017, while the number of people unemployed decreased by 20,263 over the same year-long period.
The employment growth data follows a positive revenue outlook released by the state legislature’s nonpartisan Fiscal Research Division in January that shows tax collections on track and an economy in a stable growth pattern.
“The General Assembly kept a commitment to North Carolina families to put their needs first,” said House Speaker Tim Moore. “The result is sustained economic success and a state on solid financial footing. It’s more good news that tens of thousands of new jobs opened across North Carolina over the last year. We will maintain our proven approach to building a state economy that benefits working people and businesses.”
The North Carolina General Assembly enacted historic tax relief this decade to save state taxpayers billions of dollars, encourage economic growth and spur job creation. Representative Szoka has been a leader in that effort, including as a primary sponsor of 2013 legislation that replaced a complicated system with a single Flat Tax and reduced tax rates across the board.
Since 2011 the General Assembly has levied a lower sales tax rate, income tax rate and corporate tax rate on North Carolina families and businesses, while raising the standard deduction for low-income earners.