Michigan's Job Loss Compares To The Great Depression

[BeatleBoot]

http://www.detnews.com/apps/pbcs.dll/article?AID=/20061117/UPDATE/611170449&SearchID=73264981629219


Michigan's recent job loss compares to the Great Depression

A highly-regarded economic forecast to be released in Ann Arbor this morning compares Michigan's massive job loss in the past six years to the Great Depression and paints a bleak picture for the next two years.

Michigan lost 336,000 jobs in the past six years and it will lose another 33,000 in the next two years -- the longest stretch of employment loss in the state since the 1929 stock market crash plunged the nation into bleak times, say University of Michigan economists Joan Crary, George Fulton and Saul Hymans. This time the pain is focused solely in Michigan because of its reliance on the auto industry.

"Michigan is being battered by one of the most tenacious economic storms ever confronted by its citizenry," the economists write in their 28-page forecast. "At no time in its history, or at least as far back as the records take us, has the state endured such a drawn-out disturbance."

<snip>

[whistle]

1. Entire auto industry has been gutted and whole communities have been

...decimated

[TahitiNut]

2. Reagan-Bush-Engler-Bush ... decimated the industrial working class.

... with help from Bill Clinton and a Republican Congress. :puke:

[newsdude]

4. And Americans, Democratic and Republican

Who turned their back on union-made products.

[Selatius]

3. You've worked your entire life in Detroit.

And then you're out of the job.

The bosses, who really were interested in short-term gain instead of long-term viability of the company as well as you the worker, say to you, "We fucked up, but you lose your job instead of us. Tough shit. Better luck next time!"

Now, you're a pissed off unemployed worker who wonders how he can put food on the damn table and pay the fucking bills.