Detroit unemployment rate nearing 50 percent

December 17, 2009

(ChattahBox) – While Detroit’s unemployment rate is the highest among large cities, officially it’s just under 30 percent. But the Detroit News claims the actual unemployment rate, when you factor in those who have given up looking for work or who have gone back to school following fruitless searching for work, could be as high as 45 percent.

Similarly, official joblessness stats don’t include those who want or need to continue to work but have fallen victim to corporate downsizing, or those who work part-time but would really prefer full-time work. A statement made by Detroit  Mayor Dave Bing at last week’s White House Job Summit seems to be in line with the newspapers numbers:

“Michigan’s unemployment rate is 15 percent; Detroit is 30 percent reported but in reality it’s probably close to 50 percent,” Bing told a group as he pitched for aid.

George Fulton, a University of Michigan economist, told the newspaper that Bing was on the right track.

“The qualitative point (Bing) was making is correct,” he said. “There is more unemployment out there than is officially recorded, and it’s a very serious situation.”


Comments

5 Responses to “Detroit unemployment rate nearing 50 percent”

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  5. Rob S on December 19th, 2009 6:48 pm

    Interesting article argues that to help boost its economy, Detroit should follow the lead of Amsterdam, and turn Detroit into a tourist destination by offering activities similar to the Red Light District in Amsterdam.

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