Has Detroit Truly Turned Around Their Economy?
Was Eminem Right?
During the Super Bowl, a commercial aired for Chrysler that featured Eminem. It was a not only a positive commercial for Chrysler, but for the entire city of Detroit. The commercial stressed that the city of Detroit was working to change their economic situation. It got me to wondering, if they really were succeeding.
According to a report on economist.com, during 2010 the unemployment rate fell in the city and local area of Detroit. How does a city that lost so much, lower their unemployment rate? There are two reasons and both are not very good. First there has been a dramatic decline in the over all labor force. Since 2007, it has dropped by over 100,000 individuals. Second, a household survey was used to compute the employment rate. Many of which wasn't done correctly. Just a little under 2 million workers still thrive in the Detroit area.
Another factor is the exodus of the African-American worker. They use to out number Caucasian workers. This exodus has also influenced the labor market. The individuals are no longer residing in the city.
The city however, has turned these facts around to work to their advantage. They are using this, to spin a positive outlook on employment in the city. Instead of feeling sorry for themselves, the city has tried to turn things around by this positive spin. Anything good that happens inside the city is promoted in a positive spin.
The next phase of helping Detroit recover is job security. In order for Detroit to sustain a positive employment and economic outlook, they need to keep job security improving.
Only time will tell, if this type of action will return Detroit to the labor dominance they once held. It is my hope that it will.
sources; economywatch.com
Published by Bill Hanks
Just an average Joe living in the Midwest. I am a retired High School teacher/coach. I work part time for a small college. I am president of our local Kiwanis club. I am also a city alderman. But, most of... View profile
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4 Comments
Post a CommentGood analysis.
Interesting.
:)
Thanks!