Wednesday, January 7, 2009

Michigan's unemployment rate could climb to over 11% in 2009 and 2010

According to the Detroit News the state house issued a report that projects the state of Michigan's unemployment rate will climb from the current 8.4% to over 11% in 2009 and stay above 11% in 2010.

The increase is driven by the overall economic downturn and the automotive restructurings.

This will also have a negative impact on the amount of tax revenues that the state will be able to collect during the next 3 years.

Read all of my Michigan related posts here.

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