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Old 06-22-2015, 06:46 AM
 
Location: The canyon (with my pistols and knife)
13,220 posts, read 17,957,502 times
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Quote:
Originally Posted by mjlo View Post
Michigan's recession started a full 8 years before the country did. From that stand point it's job losses has more to do with globalization and a struggling auto industry, not the great recession. Where would the state be relative to the other states if you looked at job losses from 2008 on, when it was affected by the same economic conditions as the other states?
In other words, Michigan's "recession" is actually a structural depression, which means that new industries will have to compensate for a permanent scaling down of the automotive industry.

Michigan appears to have recovered all the jobs it lost in 2008 and 2009, but the problem is, it lost almost 1,000,000 jobs between 2000 and 2009, so recovering from what it lost late in the decade still leaves it only about halfway there.
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Old 06-22-2015, 06:59 AM
 
3,961 posts, read 3,492,098 times
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Quote:
Originally Posted by Craziaskowboi View Post
In other words, Michigan's "recession" is actually a structural depression, which means that new industries will have to compensate for a permanent scaling down of the automotive industry.

Michigan appears to have recovered all the jobs it lost in 2008 and 2009, but the problem is, it lost almost 1,000,000 jobs between 2000 and 2009, so recovering from what it lost late in the decade still leaves it only about halfway there.
* WAS a structural depression. The state has been in recovery since 2010 like the rest of them. It just has farther to go to catch up because it struggled 8 years longer than any of the other states mentioned. Michigan lost a bloat of jobs that were no longer competitive. It's recovery has been more in the administrative and research side of its industries.
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Old 06-22-2015, 12:18 PM
 
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Michigan peaked in employment in the year 2000 at around 5,000,000 people. In the recession that hit during that period it fell to around 4,700,000 and never got any bump at all during the mid 2000's that most all other states saw. It was stuck at around the same number and unemployment of around 7%.

When the 2008 mess hit it took a huge nosedive to 4,175,000. So that's a 825,000 loss from 2000 and a 525,000 loss from where it had been holding during the 2000's.

Since then it's increased employment up to around 4,500,000. It still down from any peaks, but at least the 325,000 jobs gained in the past few years represent the first meaningful gain by the state since the late 1990's. It's worth noting.

Except for a period from 1996 to 2001, Michigan's current unemployment rate is he lowest it's been at any time going all the way back to the mid 1970's.
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Old 06-22-2015, 12:23 PM
 
11,172 posts, read 22,372,703 times
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Quote:
Originally Posted by Craziaskowboi View Post
There are now 35 states in the U.S. that have reached new all-time employment peaks in the last six months. Those states have all fully recovered from the last recession. Unfortunately, there are 14 others that still have fewer jobs now than they did in the 2000s, including some that haven't even recovered from two recessions ago. On the dishonor roll are Alabama, Arizona, Connecticut, Illinois, Maine, Michigan, Mississippi, Missouri, Nevada, New Jersey, New Mexico, Ohio, Rhode Island and Wyoming. Also joining them is West Virginia, which reached peak employment in 2012, but has been in its own recession since.

Below are three lists indicating the month when each state reached peak employment, the number of jobs each state is below peak employment as of May 2015, and the projected year of full recovery in each state based on year-over-year job growth rates in May 2015:


Peak employment month

May 2012 - West Virginia
October 2008 - Wyoming
March 2008 - Connecticut
February 2008 - Maine
February 2008 - Missouri
February 2008 - New Mexico
January 2008 - New Jersey
December 2007 - Alabama
October 2007 - Arizona
May 2007 - Nevada
December 2006 - Rhode Island

August 2000 - Illinois
May 2000 - Mississippi
May 2000 - Ohio
April 2000 - Michigan



Jobs below peak employment

-6,500 - Wyoming
-11,000 - Maine
-11,000 - Rhode Island
-18,900 - West Virginia
-21,200 - Connecticut
-21,800 - New Mexico
-32,700 - Mississippi
-43,200 - Nevada
-53,700 - Missouri
-66,800 - Alabama
-72,500 - Arizona
-79,800 - New Jersey
-129,000 - Illinois
-229,200 - Ohio
-413,600 - Michigan


Projected year of full recovery

2016 - Connecticut
2017 - Arizona
2017 - Nevada
2017 - New Jersey
2017 - Rhode Island
2018 - Alabama
2018 - Illinois
2018 - Maine
2018 - Mississippi
2018 - Missouri
2018 - New Mexico
2018 - Ohio
2019 - Michigan

2048 - Wyoming
N/A - West Virginia


The silver lining to this bad news is that nobody can politicize it without risking their credibility. By my count, there are seven "blue" states, six "red" states, and two "swing" states.
Illinois actually peaked in employment in December, 2007, not back in 2000.
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Old 06-22-2015, 03:39 PM
 
Location: The canyon (with my pistols and knife)
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Quote:
Originally Posted by Chicago60614 View Post
Illinois actually peaked in employment in December, 2007, not back in 2000.
Not true. According to the Bureau of Labor Statistics, employment in Illinois peaked in August 2000 at 6,058,500 jobs, and it's been below 6,000,000 jobs since July 2001. Since then, the closest it's been was 5,994,500 jobs in January 2008.
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Old 06-22-2015, 04:13 PM
 
791 posts, read 1,052,157 times
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Quote:
Originally Posted by mjlo View Post
Michigan's recession started a full 8 years before the country did. From that stand point it's job losses has more to do with globalization and a struggling auto industry, not the great recession. Where would the state be relative to the other states if you looked at job losses from 2008 on, when it was affected by the same economic conditions as the other states?
Yep.

The 2000's are called "the lost decade" for a reason.

A lot of my friends wanted to stay in Michigan, but there just weren't a lot of jobs here.

Now, it really depends on what industry you are in whether you can find a job.

Back in 2000's - it didn't matter what industry you were in - everyone was losing jobs and employers were very cautious about hiring people.
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Old 06-22-2015, 07:34 PM
 
Location: Pittsburgh, PA
5,952 posts, read 7,321,977 times
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Quote:
Originally Posted by snoopygirlmi View Post
Yep.

The 2000's are called "the lost decade" for a reason.

A lot of my friends wanted to stay in Michigan, but there just weren't a lot of jobs here.

Now, it really depends on what industry you are in whether you can find a job.

Back in 2000's - it didn't matter what industry you were in - everyone was losing jobs and employers were very cautious about hiring people.
The 2000's was a lost decade for 95% of people I'd say.
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Old 06-23-2015, 10:00 AM
 
Location: Fayetteville, Arkansas via ATX
1,255 posts, read 1,477,148 times
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I can't find the source of the information presented in the OP. Can you tell us the source, or provide a link?

Thanks.
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Old 06-23-2015, 11:02 AM
 
11,172 posts, read 22,372,703 times
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Quote:
Originally Posted by Craziaskowboi View Post
Not true. According to the Bureau of Labor Statistics, employment in Illinois peaked in August 2000 at 6,058,500 jobs, and it's been below 6,000,000 jobs since July 2001. Since then, the closest it's been was 5,994,500 jobs in January 2008.
That link you provided was broken. Here is the offical government link

Bureau of Labor Statistics Data

February, 2000 was 6,243,579
December, 2007 was 6,343,767

very close though, I only knew the difference because I use this information for work a lot in our research department and I like to follow stats....
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