Monday, August 31, 2009

Detroit jobless rate a record 28.9%

JOHN GALLAGHER
FREE PRESS BUSINESS WRITER
The unemployment rate in the city of Detroit rose to 28.9% during July, the highest rate since modern record-keeping began in 1970. The rate rose from a revised rate of 28.3% in June. Unlike statewide rates, the rates reported for the city are not seasonably adjusted. Rates tend to rise in July because auto manufacturers lay workers off during the annual model-changeover period. And, of course, Michigan has been suffering the nation’s highest jobless rate for most of the past two-and-a-half-years. The state’s rate was 15% in July. The national rate was 9.4% in July.

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