Wednesday, October 22, 2008

Monthly job losses cut across 41 states in US are sign of recession

More than 80% of states in US reported jobs disappearing in September, with Michigan suffering the highest losses, according to a government report.

Michigan lost 28,300 jobs in September and has lost 77,900 jobs in the past year. Georgia lost the second greatest number of jobs - 22,300 - down 61,100 over the past year. Louisiana shed 17,500 jobs in September, a figure not 'substantially' affected by Hurricane Ike, according to the report.

Michigan, home to the country's auto industry, has reported job losses as auto manufacturing plants close and automakers discuss mergers. Just last week, General Motors (GM, Fortune 500) announced that it would close a metal stamping plant near Grand Rapids, Mich., by the end of next year, costing about 1,340 hourly jobs.

Earlier this month, the Labor Department reported that net payrolls nationwide declined by 159,000 in September, the ninth straight month the US economy has lost jobs. The unemployment rate remained unchanged from the prior month at 6.1%.

Eleven states reported jobless rates higher than the national average. Rhode Island posted the highest at 8.8%, an increase from 8.5% in August. Michigan had the second highest rate, 8.7%, which fell from 8.9% the month before.

1 comment:

Anonymous said...

GM and Ford should obtain air space
technology to build cars as the current car technology is far let behind especially gasoline consumption.