In recent posts here, here, and here, I've been discussing structural vs. cyclical unemployment. In particular I've observed how those who are opposed to government stimulus efforts, either broad-based tax cuts or spending, are desperate to assert that our unemployment is a structural problem and not cyclical. Yesterday's post about a story in the Wall … Continue reading Rick Snyder Advocates Government Planning to Fix the Labor Market
CalculatedRiskBlog reports: Here is a depressing report from the National Employment Law Project: States Made Unprecedented Cuts to Unemployment Insurance in 2011 NELP’s new analysis shows that in 2011, six states cut the maximum number of weeks that jobless workers can receive unemployment insurance to less than 26 weeks—a threshold that had served as a standard for all 50 states for … Continue reading Unemployment Benefits Cut Will Worsen Things.
For years and through the early part of the Great Recession of 2007-09, Michigan was ground zero for unemployment. Unemployment rates of around 15% - worst in the nation. But once the GM and Chrysler completed their bankruptcies, it has begun to emerge. In the past 12 months Michigan has made relatively good progress on … Continue reading In Michigan, Governor Snyder Is Increasing Unemployment
Author Naomi Klein wrote a book a few years ago called Shock Doctrine. It is a powerful antidote to the pro-free markets, pro-globalization stories of authors such as Daniel Yergin and Stanislaw who wrote Commanding Heights. I wish Shock Doctrine were a full-length video to juxtaposition against Commanding Heights. In the book, Klein documents how … Continue reading Shock Doctrine and Wisconsin and Michigan
Rick Snyder, Michigan governor, claims "Michigan is not Wisconsin". People take this to mean Snyder doesn't want to bust unions. That's wrong. What Snyder means is he's going to use a different strategy than Walker in Wisconsin. Walker is a bare-knuckle street fighter. Snyder hires a hit-man. Snyder smiles, tells you what you want to … Continue reading Michigan IS Wisconsin – Just Different Tactics
The December state-by-state unemployment rates were released today. Michigan, which led (?) the nation for many years with the highest rate until mid-2010 when Nevada overtook it, has dropped in the rating. In December, Michigan's rate dropped 0.7 points from November. Michigan's unemployment rate has now dropped 2.8 percentage points in the last 12 months, … Continue reading Michigan Unemployment – Relatively Better
Michigan has finally lost it's title as the state with the highest unemployment rate. The May numbers are out and Michigan's rate has dropped to 13.6%. Nevada takes the top spot now with 14.0%. Michigan is continuing to move in the right direction since GM and Chrysler emerged from bankruptcy in 2009, but danger still … Continue reading Woot! After 4 Years, We’re NOT No. 1!
The latest unemployment stats (Feb 2009) by state are out at BLS. Nationally, it's still an ugly picture. But for Michigan, which has been through so much pain, things are still continuing to improve. Slowly, but it's the right direction. The rate is now down to 14.1% from a high of the mid-15's last year. … Continue reading They’re Catching Us! (yeah, sort of)
From Calculated Risk today. The state unemployment numbers for February are out. Michigan, not surprisingly, still leads with 14.3%. But, and I think this is the important part, Michigan is losing it's lead. 6--10 months ago, Michigan was recording unemployment in the mid-15%'s. That was the highest in the nation and easily 3-4 points higher … Continue reading Unemployment in Michigan (the others are catching up)