I know we’ve had a lot on this blog about the current recession and how hard it has hit the auto industry and Michigan.
So, I apologize if you’re sick of reading about it, but I’m posting a link to this sobering Wall Street Journal Story about laid-off white collar workers.
“Mr. Barr, 46 years old, was the type of well-educated, white-collar ‘knowledge’ worker that Michigan hoped would help offset a decline in auto-assembly jobs. But Detroit’s Big Three car makers have aggressively thinned these ranks in the past two years, perhaps permanently, casting tens of thousands of midcareer, white-collar workers into an extended limbo,” The Journal writes.
It continues, “Many displaced veteran workers who once earned high salaries in engineering, information technology, research and design jobs aren’t now destitute, thanks to generous severance packages. But they find themselves stuck, unable to find comparable work in Michigan, but also unable or unwilling to uproot their families and try their luck out of state.”
-Michigan’s unemployment rate as of August was 15.2% compared to 9.6% in November
– its unemployment rate has led all states for at least 26 of the past 28 months
– Metro Detroit’s 17.7% rate is the highest of any large urban area in the country