Michigan's Unemployment Rate Jumped To 11.6% In January

Purveyor

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Thu Mar-05-09 04:47 PM
Original message

Michigan's Unemployment Rate Jumped To 11.6% In January

Source: Detroit Free Press

Michigan�s unemployment rate soared to 11.6% during January, the highest level in a quarter century.

The rate jumped 1.4 percentage points from December�s revised rate of 10.2% rate, according to the Michigan Department of Energy, Labor & Economic Growth.

"In January, job reductions in manufacturing were substantial," said Rick Waclawek, director of DELEG�s Bureau of Labor Market Information and Strategic Initiatives. "A good portion of these job cuts were due to temporary layoffs. High inventories led to the extension of December holiday plant shutdowns into the month of January."

Read more: http://www.freep.com/article/20090305/BUSINESS06/90305068/Michigan+s+unemployment+rate+jumped+to+11.6++in+January

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Phred42

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Thu Mar-05-09 06:03 PM
Response to Original message

1. IS that the U3 or the U6? It matters

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Doremus

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Thu Mar-05-09 06:44 PM
Response to Reply #1

6. According to the DoL, the February figures will be released tomorrow morning.

The U-6 numbers are contained in their "Alternative measures of labor underutilization" chart.

This is the one for January:
http://www.bls.gov/news.release/empsit.t12.htm

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Zynx

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Thu Mar-05-09 11:10 PM
Response to Reply #1

8. U6 is not the historical measurement for comparisons to the Great Depression.

Not even close. We counted people who worked 10 hours a month as employed in that 25% unemployment figure back then.

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sarcasmo

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Thu Mar-05-09 06:06 PM
Response to Original message

2. You beat me to the post and I was using the same link. Were number 1, were #1.

More like 20percent in reality. People who work one hour a week don't count as unemployed and there is no number for the under employed.

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blue_onyx

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Thu Mar-05-09 06:11 PM
Response to Reply #2

3. It's probably over 20%

I'm one of the people that isn't included in the offical numbers. Sometimes being number one really sucks.

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sarcasmo

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Thu Mar-05-09 06:15 PM
Response to Reply #3

4. That makes two of us. My wife is permanently disabled and I am her caregiver.

I don't count in the fake numbers.

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Zynx

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Thu Mar-05-09 11:11 PM
Response to Reply #2

9. They were counted as employed back in the 1930s too.

It's never been counted in the U6 way. That's not to say that U6 isn't useful, but it isn't a good basis for historical comparison. U4 might be more useful for that.

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pinqy

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Fri Mar-06-09 12:35 PM
Response to Reply #9

10. Sort of...

They didn't really count unemployment in the 30's. There were a few attempts, such as a postcard census in 1936 but no household survey or real methodology. The numbers we use for that time period were calcultated in 1948.

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sandyj999

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Thu Mar-05-09 06:33 PM
Response to Original message

5. And Our Governor is telling us to buy American made cars. Like with what? n/t

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sarcasmo

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Fri Mar-06-09 04:02 PM
Response to Reply #5

11. Unemployment that is about to run out.

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llmart

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Thu Mar-05-09 11:01 PM
Response to Original message

7. There are more unemployed people.....

on our street than employed people. Granted, our street is small with only 7 houses on each side, but still, cars aren't leaving the driveways each morning as they used to (including ours).

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knitter4democracy

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Fri Mar-06-09 10:11 PM
Response to Original message

12. So, what's the real number--20%?

I've never seen it this bad, and it just keeps getting worse. Now, with the divorce, I have to find a job, and I have no idea what I'm going to do or where I'll be able to find one. I'm still looking, though.

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