Detroit is #1 (in Unemployment)

Thursday, July 30, 2009

Just when you thought things couldn't get worse in Detroit...they do. The unemployment rate in the Motor City jumped up almost 3 points last month. It now stands at a staggering 17 percent— the highest unemployment of any major city in the country. Is this the jobless economic recovery that economists keep discussing? And can Detroit rise again? Bankole Thompson, Senior Editor at the Michigan Chronicle, joins The Takeaway with more of the story.

Guests:

Bankole Thompson

Hosted by:

Amy Holmes

Contributors:

David J Fazekas

Comments [5]

Sam Hill

In order to see where the US is and to assess the the true state of the economy. Agencies like the Bureau of Labor Statistics, Bureau of Economic Assessment, the Commerce Department, etc., need to get off their
butts and do a more comprehenive statistical analysis. The general population knows that the economy is far worst than being reported. In fact the general public knew the economy was in poor shape before it was detected by the government. Many economists were stating in June of 2008, "well technically it's not a recession". Many economists were caught with their pants down. To state that the economy is recovering, when in fact it is not. Is a disservice to the public welfare of the US.

Aug. 26 2009 01:39 PM
Wittgenstein

This is such a normal way the things go.
Who is able to buy every month a new car, tv or other things that will work well for several months or years?

There are too much people for too less jobs.

Consume less is the course of the nation.
Stay the course

Aug. 20 2009 10:30 AM
Sandie

As a resident of metro Detroit, I can see for myself how tough things are here. However, I must take some exception to the idea that the city is entirely some sort of wasteland out of post-apocalyptic sci-fi movie. Sure, there are bad areas and horrible abandoned buildings, and a list of woes as long as my arm. Even so, one does not have to look far to find the good here - the symphony, the art museums, the riverfront, good inexpensive restaurants, among many other things. It's way too easy to make Detroit a symbol of everything that is wrong with the economy, big cities, the automotive industry, or anything else you can think of. There is more here than meets the eye.

Jul. 30 2009 09:56 AM
Hugh Sansom

If official unemployment is 17%, it is very likely that real unemployment is over 30%. Staggering.

Any economist claiming that the "recession is over" should do us all a favor and get a job cleaning toilets. (He needs to clean up the mess he's made.)

Jul. 30 2009 09:44 AM
fabulii

Ironically, that sign no longer exists on the facade of the Museum of Contemporary Art (http://www.mocadetroit.org).

Jul. 30 2009 08:53 AM

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