Wednesday, June 20, 2007

Mississippi vs. Michigan: Mississippi Is Winning

Although Michigan's unemployment rate improved in May to 6.9% from 7.1% in April, Michigan ranked #51 for the highest jobless rate in the country (Washington, D.C. is included). For about the the last three years, Michigan and Misssissippi have been fighting for the #51 spot for the state with the highest jobless rate in the country, and in most months Michigan has claimed it, except during the 2005 hurricane (see graph above, click to enlarge). For May, Michigan's jobless rate (6.9%) is almost a full percent above Mississippi's rate of 6%, a rate (6%) that Michigan hasn't seen in more than five years.

Michigan's job troubles won't improve anytime soon, economist Joan Crary of the University of Michigan predicted, according to this Detroit New article. She expects the state's jobless rate to average 7.5% in 2008, after hitting an estimated 6.9% rate this year -- the same as 2006. Job losses are expected to continue through next year before possible gains in 2009, though the rate of job losses may be lower than in recent years.

On the other hand, it look like Mississippi's economy will continue to improve moving forward, according to this report in the
Clarion-Ledger: Employment numbers have returned to their high pre-Katrina levels, indicating the healthiest job market since the August 2005 hurricane.

Recent job increases in Mississippi represent "really good growth for any state," not just for one that has suffered as Mississippi has, said state economist Phil Pepper.

1 Comments:

At 6/25/2007 12:24 PM, Blogger juandos said...

Just a quick observation here but isn't the state of Michigan quite a bit more socialist in their governmental outlook than Mississippi?

Consider the actions of the soicalist liberal Governor Jennifer Granholm versus that of conservative Haley Barbour's actions...

 

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