Posted on 07/17/2009 7:56:23 AM PDT by Oldeconomybuyer
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%.
Friday's report from the U.S. Labor Department also showed that unemployment topped 10% in 14 other states and the District of Columbia.
Over the month, jobless rates increased in 38 states and the District of Columbia. Unemployment rates decreased in 5 states and 7 states had no rate change.
(Excerpt) Read more at money.cnn.com ...
I’m one of those. I left last year for WA and a job that did not pay quite as much. My paycheck is the same as it was in MI, just now I don’t have to pay state income tax. My family is still there and they tell me things are really bad. Before I left I remember driving through the Livonia/Farmington Hills area outside of Detroit and seeing “For Sale” signs up and down the blocks of the subdivisions. Things are going to get much worse before they get better.
Actually, I have a friend moving out to New Hampshire and I may go. Things seem to be a little better out there.
Please do not leave. I would say all the socialist types should move to MI to save the rest of the nation. Lets MI sort of like Manhattan from Escape From New York. Instead of convicts it would be populated with welfare bumbs, union thugs, and other parasites on the US
Whewwww I am glad they passed the stimulus
A year ago, when things were merely “bad” in Michigan, I spoke to a friend who is a corporate headhunter. At that time he said there were many many mid-level management types in Michigan desperate to get out, as there was nothing there. The problem...because everyone wanted out, everyone wanted to sell their homes. No sales market, and they were stuck with mortgages they could not get out under.
At some point they were just going to have to cut the losses and leave. I wonder if we are already past that.
Hope and Change. They had hope, they got change.
Don’t put your faith in anything but the Lord - especially political parties.
It has always been so....we just don’t have a readiness to do that in this country. Furthermore, most of our fellow countrymen are so deluded they can see nothing wrong with Larry’s statement.
This is usually what happens when a community organizer starts “spreading the wealth around.”
Most of those pockets already looked like corrupt and impoverished third-world communities. It’s only the working people who propped up the bungling government, unions, and welfare state who notice the difference - maybe some of them will vote differently next time.
I am not plugged into real-estate that much to give you a yay or a nay. What I do see is more middle age guys volunteering at school because they lost their jobs. One friend who is in a technical-hands on type, cannot find work for love nor money nationwide.
Death of manufacturing in the US, no doubt the cause.
This has been going on for decades. My dad ran a company that sold industrial measuring equipment, like gauges, flowmeters, mononometers, etc...; things used in manufacturing plants to regulate processes. Back when there was a large manufacturing base in the midwest, his company did very well. And we lived well. But starting in the mid-1980’s, the business started withering away. My brother and mom tried to keep it going after dad died, but it was already in decline. They finally closed it up about five years ago.
I know economies “evolve” and you have to adapt to keep up. But there are some basic things that don’t change. The only way you create wealth is mine, grow or make something, then sell it. Strip malls with nail salons and sandwich shops don’t create wealth.
I predict Michigan will hit 18% unemployment by Christmas.
I can believe that. I’ve been unemployed in Michigan for 8 months... not even a nibble.
As long as the Polititians can provide enough city perks to the big cities, it will continue to get worse.
Thanks!
Now how do you create wealth with Poland with a 18% corp. tax, or compete against China? The dunnderheads in Washington have no idea on your plan to create wealth. They will create wealth for their kids as rain makers or traders on the Carbon Exchange selling and buying credits.
6 years at U of M studying engineering? Na, too pedestrian, when you and I know that degree and some seed corn designing and developing a product would make America Stronger.
I have been thinking this Rintense for a while but have no imperical data to back it up? do you? I think it is going to spike like a mad man because of this, all those rounds at Ford, GM and Chrysler from a year or so ago are now going on unemloyment, one of my buds just did so they are waves of them coming after him as well...
PS: when mine runs out, I'm screwed.
I knew there was at least one Conservative in Michigan.
:)
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