Posted on 06/17/2015 11:11:26 AM PDT by MichCapCon
In a recent editorial, the Detroit Free Press’ Stephen Henderson criticizes policymaking that was supposed to spur job creation, saying that instead “the unemployment has creeped down at alarmingly slow rates.”
ForTheRecord says: The drop in the state's unemployment rate from 14.9 percent in June 2009 to 5.4 percent in April 2015 has been among the quickest and steepest drops in Michigan going back to 1976, which is the farthest back comparable monthly data is available.
In October 1982, the state's unemployment rate was 16.5 percent. It took the state until December 1988 to get unemployment down to 6.9 percent, which mirrors the 9.5 percent drop from 2009 to 2015.
Nobody is looking for work anymore.
It’s funny listening the leftist on MLive try to “thank” Obama based on nothing they can cite, while other leftists decry the drop as nothing but low-wage junk jobs in an effort to bash the GOP that has run Michigan since 2009.
Loon bats.
The fastest way to see wages rise is to maximize employment. That generally means getting gov't out of the way of job creation.
Detroit is very slowly coming back from economic ruin compliments of Democrats although it will be many years before they make a full comeback.
Isn’t Michigan one of the states with the highest net move outbound rate?
Ping.
Michigan Governor Rick Snyder a Republican.
“The fastest way to see wages rise is to maximize employment. That generally means getting gov’t out of the way of job creation.”
Actually, during the 60’s, with Johnson pumping money into the economy like a man possessed, unemployment dropped to under 3%. It was rising wages that pushed inflation up. Nixon got in and his advisors wanted to stop inflation by letting the natural unemployment cycle put the country back into economic equilibrium. However by that time the currency fiasco took place. (Remember the movie Rollover?)
The rest is history. Classical economists on this site can probably sum it up better than I. I am taking Macroeconomics this semester and am getting bombarded with Keynesian theory which caused this mess. Friedman pretty much said, “we told you so.” But no one listened.
Nixon came out and declared, “I am a Keynesian.” Turned out that one statement may have destroyed the nation. That and “My Muslim Faith, “you mean your Christian faith.”
just came back from Detroit, visiting my brothers and sisters. Just about everyone I know back there isn’t working, or doing some kind of piece meal free lance work for low pay. I do have one sister who is still a teacher and 1 brother who is a full time truck driver.
but everyone else and I’m talking a good 10 to 20 people in my circle of friends, has been out of work for over 10 years.
it’s a pretty state to be sure, but I left in 1985 for that very same reason. I was never able to garner anything but minimum wage jobs. I moved to Los Angeles and immediately found work as a temp in a corporation. hired soon after.. have worked my way up since at various corporations, making more and more money with each move. I now make a very comfortable living.
and in going back last week, I heard the stories.. “oh he had a stroke, he and his wife were kicked out of their home- they are broke”.... or “so and so is living with parents — he is 62, parents 85 to 90” it’s just non stop.. I love Michigan, but I’m glad I got out. It feels damn good to have a good paying job... end of story.
How many people have left Michigan. recently when I inherited a vehicle and other possessions from a relative in Minnesota, I had to rent a uhaul to transport everything. I was given a perk rental of the UHaul truck and car trailer, reduced rate if I returned the truck and trailer to an area of high demand - Marquette. Boy it was substanial savings and when going to return it on the weekend, I was given an additional 100 miles if I returned it to a facility that had a demand for it for Saturday delivery on Mi 28 East of Marquette.
So unemployment is lower because people are leaving Michigan in droves.
Marquette general Hospital has had a major change, many physicians, nurses and so forth are leaving Marquette, Mi because the hospital and clinics are now part of Duke Lifepoint health System (Duke University of North Carolina).
The economic crash of the country took place only because of the OPEC embargo and the explosion of the entitlements spending.
Prior to that time energy costs were low, and the consumer sector was still growing.
Locally, Kelvinator hired something like 600 people in the summer of 1966, before LBJ’s war in Vietnam had peaked along with fed spending.
“Keynesian” spending was still in decline as the war wound down. Nixon had just one budget surplus, and that was early in his administration.
How much was that again?
“The economic crash of the country took place only because of the OPEC embargo and the explosion of the entitlements spending.”
That’s a bit later in his administration. The 69-70 problems which led to most of the later issues was the gold price and America backing it.
It’s an interesting read if you can find an article where it is all fact and not opinionated.
The claims that the supposed taking the US off the gold standard caused all the problems is just opinion, and ill-informed at that. There’s the academic bias against Republicans (and in particular Nixon).
That is what I would suspect; NJ will also see unemployment drop as people continue streaming out. One of our rural counties that saw a short-term boom (Sussex, in the NW part of the state bordering both PA and NY) is now debating what to do with empty county buildings as the area de-populates. Many of the type who fled there ten years ago now just keep going across the Delaware River into Pennsylvania...
Illegal immigration is being encouraged/abetted to stop these areas from becoming complete ghost towns; here in NJ our population is stable because of the illegals trafficked here. They contribute nothing, but serve to re-distribute taxpayer dollars (at all levels) to the various stores, schools, etc. to keep them going.
“The claims that the supposed taking the US off the gold standard caused all the problems is just opinion, and ill-informed at that. There’s the academic bias against Republicans (and in particular Nixon).”
Like I said, not opinionated.
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