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Michigan's unemployment reaches 15%

Started by Savonarola, July 17, 2009, 10:35:06 AM

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Savonarola

July 17, 2009, 10:35:06 AM
We made the news  :)


QuoteMichigan unemployment tops 15%
Government says jobless rate is the highest for a state since 1984.

Especially in a tough economy, plentiful job opportunities are key to making a great place to live. These 25 counties have experienced the most job growth over the last eight years.

NEW YORK (CNNMoney.com) -- Michigan became the first state in 25 years to suffer an unemployment rate exceeding 15%, according to a report released Friday by the government.

The state's unemployment rate rose to 15.2% in June. It was the highest of any state since March 1984, when West Virginia's unemployment rate exceeded 15%.

Michigan, which has been battered by the collapse of the auto industry and the housing crisis, has had the highest unemployment rate in the nation for 12 months in a row.

Rhode Island had the second highest unemployment rate at 12.4%, followed by Oregon at 12.2%.

Friday's report from the U.S. Labor Department showed that 14 states and the District of Columbia had unemployment rates above 10%.

Over the month, jobless rates increased in 38 states and the District of Columbia. Michigan's 1.1 percentage point increase was the highest in the nation, followed by Wyoming's 0.9 point increase.

On an annual basis, jobless rates where higher in all 50 states and the District of Columbia. Michigan also recorded the highest yearly increase at 7.1 percentage points. Oregon came in second with a year-over-year increase of 6.3 percentage points in its unemployment rate.

The national unemployment rate rose for the ninth straight month in June, climbing to 9.5% from 9.4%, and hitting another 26-year high. Nearly 3.4 million jobs have been lost during the first half of 2009, more than the 3.1 million lost in all of 2008.

Unemployment rates decreased in five states, and seven states had no rate change.

North Dakota's 4.2% jobless rate was the lowest in the nation, followed by Nebraska at 5%

I'm glad the stimulus package saved or created 600,000 jobs (or will have by the end of the summer.)  We'd really be in trouble without that. 
In Italy, for thirty years under the Borgias, they had warfare, terror, murder and bloodshed, but they produced Michelangelo, Leonardo da Vinci and the Renaissance. In Switzerland, they had brotherly love, they had five hundred years of democracy and peace—and what did that produce? The cuckoo clock

DGuller

#1
July 17, 2009, 10:41:29 AM
Good job.

garbon

#2
July 17, 2009, 10:42:12 AM
No job. :(
"I've never been quite sure what the point of a eunuch is, if truth be told. It seems to me they're only men with the useful bits cut off."
I drank because I wanted to drown my sorrows, but now the damned things have learned to swim.

Savonarola

#3
July 17, 2009, 10:44:03 AM
Quote from: DGuller on July 17, 2009, 10:41:29 AM
Good job.

It was hard work.  We couldn't have done it without the tireless efforts of Chrysler and GM.   :)
In Italy, for thirty years under the Borgias, they had warfare, terror, murder and bloodshed, but they produced Michelangelo, Leonardo da Vinci and the Renaissance. In Switzerland, they had brotherly love, they had five hundred years of democracy and peace—and what did that produce? The cuckoo clock

charliebear

#4
July 17, 2009, 11:04:36 AM
I contributed with my unemployment-ness.   :)

DGuller

#5
July 17, 2009, 11:17:01 AM
Quote from: charliebear on July 17, 2009, 11:04:36 AM
I contributed with my unemployment-ness.   :)
:console:

KRonn

#6
July 17, 2009, 12:32:30 PM
15%.... ouch, that hurts. That's a lot of people out of work. Hopefully, and likely not, the rest of the nation isn't going to catch up to you!

Monoriu

#7
July 17, 2009, 03:42:16 PM
I read somewhere that home ownership is contributing to the problem of unemloyment.  The theory is that if you rent and you are unemployed, you can easily move to where the jobs are.  But if you own, you have to sell your house first.  But there are no buyers, and a lot of people are in negative equity.  So they are trapped in their own house, unable to move.

DontSayBanana

#8
July 17, 2009, 03:51:49 PM
Quote from: Monoriu on July 17, 2009, 03:42:16 PM
I read somewhere that home ownership is contributing to the problem of unemloyment.  The theory is that if you rent and you are unemployed, you can easily move to where the jobs are.  But if you own, you have to sell your house first.  But there are no buyers, and a lot of people are in negative equity.  So they are trapped in their own house, unable to move.

To an extent. That'd make it seem like being an owner of rental properties would be good, but they're having just as difficult a time finding employment in a given area, so landlords are also sinking more money into rentals with less revenue coming in.

Also, I wonder about the actual number of people who would be willing to relocate just to seek employment.
Experience bij!

Habsburg

#9
July 17, 2009, 03:56:52 PM
 :huh:

What is all this since 1984 stuff.

I do not remember 1984 so tough?  :swiss:

Savonarola

#10
July 17, 2009, 03:58:34 PM
Quote from: Habsburg on July 17, 2009, 03:56:52 PM
:huh:

What is all this since 1984 stuff.

I do not remember 1984 so tough?  :swiss:

We were at war with Eurasia, just as we have always been.  Times were good.  :)
In Italy, for thirty years under the Borgias, they had warfare, terror, murder and bloodshed, but they produced Michelangelo, Leonardo da Vinci and the Renaissance. In Switzerland, they had brotherly love, they had five hundred years of democracy and peace—and what did that produce? The cuckoo clock

DGuller

#11
July 17, 2009, 03:59:05 PM
It always struck me as strange that in America, social engineers promote high rate of job churn, and high rate of homeownership, at the same time.  Then again, promoting high rate of homeownership just by itself struck me as dimwitted as well, so I'm not sure where I'm going with this.

Admiral Yi

#12
July 17, 2009, 04:24:16 PM
Quote from: DGuller on July 17, 2009, 03:59:05 PM
It always struck me as strange that in America, social engineers promote high rate of job churn, and high rate of homeownership, at the same time.  Then again, promoting high rate of homeownership just by itself struck me as dimwitted as well, so I'm not sure where I'm going with this.
No idea what you mean by promoting job turnover, unless you mean the absence of European style labor market rigidities.  I can't think of any policies that are expressly designed to promote job hopping.

Razgovory

#13
July 17, 2009, 04:43:08 PM
Obama has allready surpassed the Gipper.
I've given it serious thought. I must scorn the ways of my family, and seek a Japanese woman to yield me my progeny. He shall live in the lands of the east, and be well tutored in his sacred trust to weave the best traditions of Japan and the Sacred South together, until such time as he (or, indeed his house, which will periodically require infusion of both Southern and Japanese bloodlines of note) can deliver to the South it's independence, either in this world or in space.  -Lettow April of 2011

Raz is right. -MadImmortalMan March of 2017

DGuller

#14
July 17, 2009, 04:43:33 PM
Yes, I mean lack of laws that promote labor rigidity.  Basically we're all for dynamism on the job side, and all for rigidity on the personal life side.
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