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Unemployment in Michigan March 10, 2009

Posted by shwaldman in Uncategorized.
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Michigan’s unemployment rate released yesterday is now at 11.6 percent.

The National Rate is at 8.1. In the last 60 years, it has only been higher in 1975 (as high as 9.0) and 1982-83 where it got as high as 10.8.

And at this point, it looks like there will be some more changes coming with the Big Three. General Motors is the closest to being the first to surrender, but Ford and Chrysler are probably also on the edge. Even if one closes and the others do not, the number of car dealers, suppliers and other supporting businesses that would be forced to close their doors will still be enormous.

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1. jobseeker - March 11, 2009

I saw in the news the other day that GM is ditching Saturn. The dealers are hoping to find a new manufacturer in India or China, but it looks pretty grim.

2. shwaldman - March 11, 2009

Yes, that has been batted around for a while – the dealers are not willing to go out without a fight. If they can stay afloat that would definitely save some jobs – it would be even better if there was an American manufacturer that could be formed.

3. shwaldman - March 27, 2009

February numbers just came out – Michigan is up to 12%. Six other states have made it into the double digits.

South Carolina registered the second-highest at 11 percent and Oregon came in third at 10.8 percent.

North Carolina came in fourth with an unemployment rate of 10.7 percent, the highest there on records dating back to 1976. California and Rhode Island tied for fifth place at 10.5 percent each. That was an all-time high for Rhode Island. The seventh state with a jobless rate above 10 percent was Nevada at 10.1 percent.

4. jobseeker - March 28, 2009

Here in California the empty foreclosed homes are being followed with empty storefronts from failed businesses. Governor Arnold Schwarzenegger has ordered the California Fairgrounds in Sacramento to be used for the unemployed homeless to set up tents in. I suspect that the situation is a lot worse than even the grim numbers you cited indicate.

5. shwaldman - March 31, 2009

no doubt – I don’t even know how those numbers are calculated – I don’t think they take into all the people who have been on unemployment too long to get benefits. The system loses track of them. And still to come, with the automakers in limbo – we are on the brink of a possible huge jump.

6. shwaldman - April 16, 2009

Michigan unemployment rate hit 12.6% this week. We are still waiting on hearing the outcome of the Big Three automakers. The Bureau of Labor and Statistics website is not updated yet, but I suspect other states are still going up too.

7. shwaldman - May 20, 2009

This week, Michigan unemployment edged up to 12.9%. I was expecting a little more, but things have been quiet here as many await the results of the auto restructing that has really just started. Chrysler’s bankruptcy will certainly close more plants and Michigan only had about 40 of their nearly 800 dealers to close. GM’s follow-up announcement to close another 1,100 will certainly hurt some more too all the across the country.

8. shwaldman - June 18, 2009

GM and Chrysler have both entered bankrupcy and now the national rate has reached 9.4%… Michigan jumped to 14.1% through May. The trickled down of the plant and dealership closures will soon affect more suppliers and then more general services in those areas….I think we are still headed higher. Those of us with jobs and lucky to have them… I will continue to work as hard as I can to prove my value to my organization.

9. shwaldman - July 16, 2009

June numbers are out… national rate bumped to 9.5%, but the Michigan rate JUMPED again to 15.1%. I have not seen other states, but with only a 1% change at the national level and 1.1% change in Michigan, it sounds like others aren’t doing as badly. I hope that means unemployment is stablizing. The turnaround is more than months away, I am sure.

10. shwaldman - September 8, 2009

Michigan’s June rate was adjusted up to 15.2% and actually dropped to 15.0% for July. Of course, if you look at the recession, that drop may be caused in part by that many people have been on the rolls for too long. In April of ’08, Michigan was at 6.8%.
The National rate was moved to 9.7% for June and came in equal in July. Interestingly, the national rate was 4.8% back in April of ’08… I wonder if the national rate will catch-up at all.


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