Tuesday, July 7, 2009

Detroit's Jobless Rate at 25%

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According to the Michigan Department of Energy & Labor, in May 2009 Detroit saw it's jobless rate hovering at 24.7% (up almost 2 full percentage points from April 2009, and almost 10 percentage points in the last year).

This compares to Michigan's unemployment rate of 14.1% in May 2009 and the US Average hovering at around 9.4% for the same time. Clearly times are tough for motown, and with auto-sales still at multi-year lows, and Auto-makers and Auto-Suppliers filing for bankruptcy (GM, Chrysler, Lear, Visteon, etc...) it'll be some time before Detroit and Michigan start seeing a decline in the jobless rate and the ranks of the unemployed in this rustbelt state will be higher than the national average for years.

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