Michigan unemployment tops 15%

[eppur_se_muova]

Source: CNNMoney.com

By Ben Rooney, CNNMoney.com staff writer
Last Updated: July 17, 2009: 11:52 AM ET

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 Labor Department.

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%.



Read more: http://money.cnn.com/2009/07/17/news/economy/state_unemployment_report/index.htm?postversion=2009071711

---

And that's only the *official* figure ...

[valerief]

1. Well, it's definitely a depression in Michigan. nt

[scarface2004]

2. that means 'unofficially' its probably 25%!

damn statistics

[sarcasmo]

13. Living here I would say that is very close to the truth. The scammers are out trying to take

Advantage of people looking for work.

[happyslug]

19. We are talking of the U-3 Rate, the U-6 Rate is always higher

The difference between the U3 rate (The official Unemployment rate using) and the U-6 Rate (Unemployment including those marginally attached to the Work Force) is roughly 6 percentage points, NOT a multiple of the U-3 rate:
http://www.bls.gov/news.release/empsit.t12.htm

Last OFFICIAL Unemployment statistics (Published for the yearly period ending the first quarter of 2009, the Department of Labor does NOT believe its surveys of Unemployment are accurate enough to provide good data on a state by state basis for monthly unemployment, it does publish the U-3 rate on state by state basis, but NOT U-6 do to this lack of good data).

U1, U2, U3, U4, U5, and U6 rates ending March 31st, 2009:
http://www.bls.gov/lau/stalt09q1.htm

Department of Labor Statistics:
http://www.bls.gov/data/#unemployment

More on Unemployment in general:
http://en.wikipedia.org/wiki/Unemployment

[bif]

3. It's probably double that.

I know tons of folks here who are out of work, including me. And I don't count because I'm not collecting unemployment.

[llmart]

8. You are so right.....

It is closer to 30%. So many people aren't even eligible for unemployment benefits - part timers or those whose benefits have expired. I'm afraid, too, that every time the numbers reportedly increase, more employers become too cautious and make more cutbacks and people hang onto the money they do have. It's a vicious circle.

[MichiganVote]

4. K&R

[Faygo Kid]

5. My poor home state. Still a place of wondrous beauty.

Still Home, too, and I'm going back some day.

[cascadiance]

6. Ah... We slipped to third now!

Should I cheer?

:eyes:

[vssmith]

7. I know people out of work too but...

it is strange how the restaurants are all full on Friday night.

[MichiganVote]

9. Not in the UP. Northern Mi is suffering too.

[quakerboy]

20. not here

not here. i take clients out to eat regularly. every sitdown has been telling me how slow business has been for months now

[Lasher]

10. I feel bad for the folks in Michigan.

Reminds me of West Virginia in the 1970s when so many mining jobs were lost, never to return.

[hedgehog]

15. I wonder how many people who are out of work in Michigan

now are from families who left Appalachia 40 years ago.

[Lasher]

22. I know at least one guy.

He lost his factory job there and moved back here. He never was able to get another job but at least here he could live with his mother.

[Dulcinea]

24. Or Pittsburgh in the early '80s.

When the steel mills closed down, western PA had unemployment in the 10-15% range. But Pittsburgh reinvented itself. I hope Michigan can do the same.

[caseymoz]

11. Employment better not be such a "lagging indicator" in this recovery.

The country might have an insurrection if it is.

[defendandprotect]

12. Agree it's probably much, much higher ... I was going to say 30% . . .

And it seems to be that Michigan has had a depression for 20 years now?

[llmart]

16. 20 years????

You are wrong. I moved here 17 years ago and I couldn't believe the material things people owned, the big houses, the mulitiple vehicles, the vacation houses up North, the boats, the Skidoos, the huge bonuses the big three gave out in the early '90's. I could go on and on. No, this is within the last 5 years or less.

[defendandprotect]

21. In five years they went to 15% . . . ???

Meanwhile, had in mind "Roger & Me" . . .

Obviously, there has been a lot of wealth in Michigan among elites --
didn't think the middle class was that strong there any longer.

[blue_onyx]

26. Michigan hit its all time low unemployment level

in March of 2000 at 3.2%. It went up from then and eventually settled around 7% toward the end of 2002 where it remained until last year.


http://www.bls.gov/web/lauhsthl.htm

[Mari333]

14. on the bright side

i think ted nugent moved to texas.
yeah, we are F&cked.

[llmart]

17. Well, that would be a plus :)

Let Texas have him.

[sarcasmo]

25. Good think that knuckle head left our State, Nugent makes me ill.

[Mari333]

18. add a few more points on there for people out of work for so long

they arent even trying to find jobs

http://www.bls.gov/news.release/empsit.t12.htm

[Glenda]

32. thanks for that link n/t

[DeltaLitProf]

23. Obama better have a plan for Michigan

. . . or else Michigan is going to lose Dem Congressmen (possibly a senator, too) in 10 and go red in 12. I'm not liking him just saying the auto jobs are gone never to come back and having nothing else to say but the typical vague "new economy" claptrap.

[gizmo1979]

27. I was in Ann Arbor 2

weeks ago and the place was booming. I couldn't believe the difference it's like another world.

[llmart]

28. I read somewhere......

that the Ann Arbor area is still doing OK compared to the rest of Michigan. Were you there for the art fair? If so, that wouldn't be a good indication of how it normally is because the art fair draws a lot of people from all over. Having said that though, I think the art fair was last week.

[gizmo1979]

29. No the art fair is this week.

My daughter is there and says it's just crazy,you can't drive because everything is packed full.She said it's an amazing event.She loves Ann Arbor.

[Romulox]

30. Ann Arbor is not really a self-sustaining community in itself.

If you check out US 23 (main north/source freeway in the Ann Arbor area) between 4 - 7 pm on any given weekday, you'll note the crush of commuters returning home.

In addition, the city itself is dominated by the University, which is, of course, not subject to market forces.

[gizmo1979]

31. My daughter goes to grad

school there.I was amazed at how many people are there during the summer.Every restaurant was packed.This was on a Monday and a Tuesday.Our eateries aren't that busy on a good weekend.