Mich. unemployment rate hits 14.1 percent in May, page 1

Michigan's unemployment rate jumped to 14.1 percent in May, its highest mark in nearly 26 years, according to a state report released Wednesday. The monthly seasonally adjusted rate is the highest recorded in the state since reaching 14.2 percent in July 1983. The rate is up from 12.9 percent in April and 8.2 percent a year ago. The state's job situation likely will get worse as state economists predict Michigan's unemployment rate could average 14 percent this year and more than 15 percent in 2010. The struggles of the domestic auto industry including bankruptcies of Chrysler LLC and General Motors Corp. have hit Michigan particularly hard. Gov. Jennifer Granholm had warned the latest jobless report would be ugly prior to its release.

www.businessweek.com...

Yeah, it's getting better! Only up to 14 PERCENT!! And those numbers are BS anyway because it's really higher than that.

It's going to get much worse up here with the auto companies taking a beating. I wish I lived in Texas. Michigan is one of the worst run states in the country...probably second to California.

But yeah...it's getting better. I believe Obama! Give the Fed more powers! It will help!

What a disgrace.

reply to post by David9176

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yea and Obama just said that the national level would hit %10
www.bloomberg.com...

but we all know it's higher already

reply to post by David9176

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The way the numbers are work are to ease the real unemployment numbers.

When you take unemployment figures from each city numbers tend to be higher, but the higher numbers are then even out with cities that are not doing as bad.

If you take California already is cities with rates as high as 25% but the figures get even out when cities with lower rates are added.

Now the figures gets even better when they are all added nation wide as we do have some states that are doing pretty good even during this recession.

reply to post by marg6043

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Yeah, I know they don't account for those...so it's likely near 20 percent. I know quite a few people that aren't working...and I don't live in Detriot. They've been jobless for over a year and cannot get a job.

I'm still working (Luckily!) but I worry about it all the time. If we lose any more work...then we could be done. I work at a small business...the ones that SHOULD be getting help...instead we do nothing but funnel money to banks here and to other countries. We continue to let jobs leave the country because of NAFTA..we don't control immigration...GARR.

What has really been done to help American workers? We've been nothing but hammered for decades with inflation and good job losses.

No one gives a damn about the people. They just throw unemployment at you to keep you from causing to much of a stir.

reply to post by warrenb

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yea and Obama just said that the national level would hit %10

Even though he said it would only hit...what was it...9 percent... if we passed the vaunted stimulus package?

Sometimes it feels like we jumped off a diving board, belly flopping into a pool with no water.

It's going to feel great!

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