Michigan unemployment rate hits 14.1 percent in May

her209

No Lifer
Oct 11, 2000
56,336
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http://www.businessweek.com/ap...cialnews/D98SL6L00.htm

Michigan's unemployment rate jumped to 14.1 percent in May, its highest mark in nearly 26 years, according to a state report released Wednesday.

The monthly seasonally adjusted rate is the highest recorded in the state since reaching 14.2 percent in July 1983. The rate is up from 12.9 percent in April and 8.2 percent a year ago.

The state's job situation likely will get worse as state economists predict Michigan's unemployment rate could average 14 percent this year and more than 15 percent in 2010. The struggles of the domestic auto industry including bankruptcies of Chrysler LLC and General Motors Corp. have hit Michigan particularly hard.

Gov. Jennifer Granholm had warned the latest jobless report would be ugly prior to its release.

"It's not good, and it's not unanticipated given what's happening in the automotive sector," Granholm told reporters Wednesday. "As we've said all along, in this summer, things are going to get worse before they get better, and today's unemployment number is a reflection of that."

Several states have not yet reported their May unemployment rates. But Michigan likely will remain the state with the nation's highest jobless percentage.

The national jobless rate was 9.4 percent in May.

Michigan's big jump in unemployment last month is largely related to the auto industry's problems.

"Major events continued to unfold in Michigan's auto industry in May, which had a considerable impact on the state's unemployment rate," Rick Waclawek, director of the state's Bureau of Labor Market Information and Strategic Initiatives, said in a statement.

Total employment dropped by 54,000 during the month. Total nonfarm payroll jobs dropped by 24,000. The state counted 682,000 people as unemployed in May.

Michigan lost 16,000 manufacturing jobs and 4,000 construction jobs. Employment also was lost in retail trade, education services and health services jobs.

About 3,000 jobs were added in government statewide. About 3,000 jobs were added to leisure and hospitality services with the start of the summer tourism season in Michigan.
The future looks bleak. Time for a mass exodus of Michigan residents to other states.
 

PokerGuy

Lifer
Jul 2, 2005
13,650
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Combination of the collapse of the auto industry and very very stupid city / state leadership.
 

MovingTarget

Diamond Member
Jun 22, 2003
9,002
115
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This isn't a big surprise. It isn't just the demise of the domestic auto industry that is doing Michigan in though. Until we see an actual industrial policy in this nation other than 'free trade is good everything else be damned', we will continue to see this all across America. We need to get back to actually producing more of what we consume.
 

kage69

Lifer
Jul 17, 2003
29,691
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Didn't Detroit just lose it's last food chain outlet too? Yikes....
 

EagleKeeper

Discussion Club Moderator<br>Elite Member
Staff member
Oct 30, 2000
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michigan has known fo rthe past 15-20 years that it needed to start to diversify it's economic base.

But the lure of the automotive industry and the power of the unions may have been too strong.

Once the Big 3 were being challenged by the imports, the writing was on the wall.
trouble was coming - people just were unaware how bad and when.
 

StageLeft

No Lifer
Sep 29, 2000
70,150
5
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In so many ways Michigan is a great example and should be held high as an example of what other states should not be.

BTW, the median house in detroit now I think sells for about $8500 (CNN said average, but I think it's median).
 

JKing106

Platinum Member
Mar 19, 2009
2,193
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Ain't my problem. There's a Walmart in every town for them to work in. Next thing you know, they'll want unemployment...
 

bobsmith1492

Diamond Member
Feb 21, 2004
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Unfortunately Detroit is a big sinkhole sucking the state down; Western MI is doing quite all right (where I am, anyway).
 

techs

Lifer
Sep 26, 2000
28,559
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And yet Michigan is still a donor state, contributing its tax dollars to support what can only be termed the "failed recepient states" that suck the life out of the donor states.
 

DonaldC

Senior member
Nov 18, 2001
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Originally posted by: techs
And yet Michigan is still a donor state, contributing its tax dollars to support what can only be termed the "failed recepient states" that suck the life out of the donor states.

Link?
 

Andrew1990

Banned
Mar 8, 2008
2,153
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Originally posted by: OCguy
Wasnt someone saving/creating millions of jobs?

Didnt you get the memo, we did save millions of jobs. The only problem was that we lost more jobs than we saved.

Of course saving those jobs was only temporary.
 

Fern

Elite Member
Sep 30, 2003
26,907
173
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Originally posted by: DonaldC
Originally posted by: techs
And yet Michigan is still a donor state, contributing its tax dollars to support what can only be termed the "failed recepient states" that suck the life out of the donor states.

Link?

Yeah, I'd like to see that too. (I really doubt their automakers' bailouts funds are considered in such an analysis either. I only found data up to 2005, and the bailout funds would've would've wiped out any 'donor' status)

(Not to mention how bogus that crap is. E.g., MI gets credited with automaker profits (back when they had them) even though it comes from all over the US merely because corp HQ is in Detroit)

Fern
 
Oct 30, 2004
11,442
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Gov. Jenny: "And in five years you'll be blown away" (by how good the state's economy will be).

Rather, Michiganders have been blown away--to other states or perhaps Jenny meant to say, "And in five years you'll be moving away".

For those of you who live in other states--get ready of an even larger influx of hard-working Michiganders, especially those of you in North Carolina and Texas.

As for the City of Detroit, the only way to revitalize Detroit would be to have 95% of the people living there move out and to then raze 95% of the city to the ground and start over. One of the problems is that a great many of those people are welfare mothers, children of welfare mothers, drunks, and drug addicts who need to be sent to some sort of a reeducation camp and taught to live properly and to support themselves. One idea that I have would be for the state to try to find a way to export them to other states (heh heh).

Aside from that, my other plans for fixing the Michigan economy involve making marijuana 100% legal and taxing it, thus allowing us to benefit from "Marijuana Tourism" and also to construct a great many nuclear power plants (let's use that cold lake water) and to then export the power to other states.





 

glenn1

Lifer
Sep 6, 2000
25,383
1,013
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Originally posted by: techs
And yet Michigan is still a donor state, contributing its tax dollars to support what can only be termed the "failed recepient states" that suck the life out of the donor states.

So what's your point? That's what you folks in blue states vote for and yearn for the government to tax you more (high cost-of-living blue states and cities) to give to the "poor" in low cost-of-living red states.
 

JSt0rm

Lifer
Sep 5, 2000
27,399
3,947
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Originally posted by: glenn1
So what's your point? That's what you folks in blue states vote for and yearn for the government to tax you more (high cost-of-living blue states and cities) to give to the "poor" in low cost-of-living red states.

Actually I yearn for the red state to succeed from the nation.
 

Corn

Diamond Member
Nov 12, 1999
6,389
29
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Originally posted by: glenn1
Originally posted by: techs
And yet Michigan is still a donor state, contributing its tax dollars to support what can only be termed the "failed recepient states" that suck the life out of the donor states.

So what's your point? That's what you folks in blue states vote for and yearn for the government to tax you more (high cost-of-living blue states and cities) to give to the "poor" in low cost-of-living red states.

Oh, so now Techs complains about the redistribution of wealth.
 

Fern

Elite Member
Sep 30, 2003
26,907
173
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Originally posted by: JSt0rm01
Originally posted by: glenn1
So what's your point? That's what you folks in blue states vote for and yearn for the government to tax you more (high cost-of-living blue states and cities) to give to the "poor" in low cost-of-living red states.

Actually I yearn for the red state to succeed from the nation.

Well, after the last election that would be a pretty damn small succession group.

Fern
 

Fern

Elite Member
Sep 30, 2003
26,907
173
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Originally posted by: Corn
Originally posted by: glenn1
Originally posted by: techs
And yet Michigan is still a donor state, contributing its tax dollars to support what can only be termed the "failed recepient states" that suck the life out of the donor states.

So what's your point? That's what you folks in blue states vote for and yearn for the government to tax you more (high cost-of-living blue states and cities) to give to the "poor" in low cost-of-living red states.

Oh, so now Techs complains about the redistribution of wealth.

LOL

Fern
 

JS80

Lifer
Oct 24, 2005
26,271
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If you guys are looking for long term investment opportunities, invest in Texas land.
 

EagleKeeper

Discussion Club Moderator<br>Elite Member
Staff member
Oct 30, 2000
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Originally posted by: Fern
Originally posted by: JSt0rm01
Originally posted by: glenn1
So what's your point? That's what you folks in blue states vote for and yearn for the government to tax you more (high cost-of-living blue states and cities) to give to the "poor" in low cost-of-living red states.

Actually I yearn for the red state to succeed from the nation.

Well, after the last election that would be a pretty damn small succession group.

Fern

It would have a major impact to the blue states - most would be crippled very quickly due to lack of resources.