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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.