Brother, can you spare a dime.

They can stuff all the retraining they want into a  5 lb. sack; but until they create jobs, the unemployed are doomed.

For the first time in my entire life, I actually know people, not a person but people, who are not only unemployed, but unemployed, in foreclosure, and filing for Chapter 13 bankruptcy.  WTF!

Table D. States with statistically significant employment changes from September 2007 to September 2008, seasonally adjusted

————————————————————————-

| September | September | Over-the-year

State | 2007 | 2008(p) | change(p)

————————————————————————-

Arizona…………………..| 2,670,700 | 2,611,500 | -59,200

Florida…………………..| 8,014,500 | 7,899,000 | -115,500

Georgia…………………..| 4,153,900 | 4,092,800 | -61,100

Michigan………………….| 4,249,500 | 4,171,600 | -77,900

Nebraska………………….| 965,800 | 978,600 | 12,800

Rhode Island………………| 490,800 | 478,200 | -12,600

Texas…………………….| 10,394,700 | 10,642,600 | 247,900

Wyoming…………………..| 290,100 | 298,300 | 8,200

Cross posted at dailykos

The Mass Layoff Statistics (MLS) program collects reports on mass layoff actions that result in workers being separated from their jobs. Monthly mass layoff numbers are from establishments which have at least 50 initial claims for unemployment insurance (UI) filed against them during a 5-week period. Extended mass layoff numbers (issued quarterly) are from a subset of such establishments-where private sector nonfarm employers indicate that 50 or more workers were separated from their jobs for at least 31 days. http://www.bls.gov/mls/

MSL Fast Facts

* From January through September 2008, the total number of events at 14,811, and initial claims, at 1,510,446, were the highest for the January-September period since 2003 and 2002, respectively.  

* The manufacturing sector accounted for 28 percent of all mass layoff events and 36 percent of initial claims filed in September 2008; a year earlier, manufacturing made up 34 percent of events and 44 percent of initial claims.  

* In September, the number of manufacturing claimants was greatest in transportation equipment manufacturing (19,278), followed by machinery manufacturing (4,058).

Mass layoff events and initial claimants for unemployment insurance.

Distribution by Industry

Mass Layoff Events (MLE)  

Initial Claimants for Unemployment Insurance (ICUI)  

Sep07 / Jul08   /  Aug08  /   Sep08

Total MLE………    1,307 / 1,512 / 1,772 / 2,269

Total ICUI……..  128,487 / 151,171 / 173,955 / 235,681

Total, private nonfarm

MLE………………..1,204 / 1,368 / 1,622 / 2,092    

ICUI……………..121,294 / 140,116 / 163,800 / 221,538

Manufacturing      

MLE………………..430 /   443 / 599   /  603      

ICUI……………..53,432 / 57,470 / 72,244 / 81,414

Distribution by Region

Mass Layoff Events (MLE)  

Initial Claimants for Unemployment Insurance(ICUI)                                                    

Sep07 / Jul08  / Aug08 / Sep08                                                                                                                

United States      

MLE ……….    717   /   1,891 /  1,427  / 1,292

ICUI……….   67,385 / 200,382 / 139,999 / 129,586

Northeast        

MLE ……….    96    /   281   /    226    /  142

ICUI……….   8,660  /  25,506 /   22,736  / 11,646

South            

MLE……….    160    /   450    /    362   /   475  

ICUI………   15,913  /  48,440  /  38,188  / 43,772

Midwest          

MLE………..   156    /   606    /   307   /   225

ICUI……….  17,273  /  84,535  /  33,238 /  26,646

West                

MLE…..     305    /   554    /   532   /   450      

ICUI….    25,539  / 41,901   / 45,837  / 47,522

Michigan, already leading the nation’s unemployment rate, jumped roughly two percentage points in six months, adding thousands more to its ranks of the unemployed.  

Michigan Labor Force Data

Apr / May / June / July / Aug /Sept 2008

Civilian Labor Force

4,981.6 / 5,007.4 / 4,990.2 / 4,958.9 / 4,943.4 / 4,924.1

Employment

4,635.9 4,579.5 4,566.8 / 4,539.6 / 4,504.4 / 4,494.9

Unemployment

345.8 / 428.0 / 423.3 / 419.2 / 439.0 / 429.3

Unemployment Rate  

6.9 / 8.5 / 8.5 / 8.5 / 8.9 / 8.7

These figures do NOT yet count the round of auto cuts currently announced and looming by the end of this year.  It is expected that another 25,000 auto workers will join the ranks of the unemployed nationwide, most in Michigan.  Also not included in these projections is the fall out to suppliers, ad agencies, lunch counters, etc. that are dependent on the autos for their jobs.  

Even if all three American auto companies survive, which is highly unlikely, they will only be roughly half the size of what they once were.  This means the job loss is permanent, and there are no industries on the horizon to fill the hole left in the job market by the domestic auto and supplier companies.    Loans to the autos will not prevent the contraction.  Loans to the autos will simply assure that there is a domestic auto industry left in 2010 to fight another day.    

13 comments

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    • dkmich on November 9, 2008 at 4:28 pm
      Author

    http://www.youtube.com/watch?v

    Damn, can get the embed to work.  

    • pfiore8 on November 9, 2008 at 7:05 pm

    too many with the power in that industry took short-term gain over long-term relevance.

    value. it’s all about the value. not god.

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