Wednesday, June 17, 2009

Should the Motor City R.I.P.?

Unemployment in Michigan now exceeds 14%. 14.1% thru May of 2009 actually. 682,000 residents relying on Government for unemployment benefits.Let's keep in mind that these figures they release only reflect people actively seeking work in the last 4 weeks.It doesn't include those who have stopped looking,run out of benefits,working only part-time,working in jobs temporarily while they seek other jobs,etc.

Still,that's 55,000 more unemployed in just the last month.These numbers don't account for automaker factory closings,suppliers and dealer closings upcoming.

Manufacturing jobs also lost an average of over 5 hours per week in May and earnings dropped over $130 per week since April.

The Mackinac Center is on record predicting 20% unemployment as a real possibility in Michigan.

Is it time for the Motor City name to die?We continue to try to prop up and hold on to what was a great industry for generations.But it's time has passed as being iconic.While it certainly would be beneficial for Michigan to remain involved in the auto industry,and we will,we must face the music and finally evolve.Granholm has visions of Michigan being the industry leader in "green" technology.I think it would be unwise to make the new "green" auto industry the cornerstone of our future.It should only be a piece of the very diverse economy that is required to survive and excel in the years to come.More to come...

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