U.S. Steel Closing Great Lakes Plant in Ecorse Along With Two Others
U.S. Steel Corp. said late Tuesday that it will temporarily idle its Great Lakes Works plant in Ecorse and two other facilities in a move to reduce production amid falling demand for its steel products.
The action will affect roughly 3,500 workers at the three […]

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Preparation Not Panic is the Answer to the Troubled Economic Times Ahead
NEW YORK (CNN) — Despite the best efforts of our politicians to convince us otherwise, there is no easy way out of the financial crisis we’ve created.
Gimmicks and Band-Aids won’t solve the underlying problem; they just delay its impact until after the election. While […]

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Is This Recession Worse Than Past Recessions?
Rising food and gas prices, falling home values and more job losses are making readers pretty gloomy. So just how bad is the current economic slump compared to other downturns?
There have been five official recessions in past 35 years. The most recent ones were fairly mild. So if you […]

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Unemployment Extension Signed by Bush
WASHINGTON – President George W. Bush has signed a spending bill today that includes a 13-week extension of unemployment benefits, a measure expected to be of great help to people in states such as Michigan struggling with high unemployment rates.
Initially, Democrats had argued that states with particularly high unemployment rates, like […]

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House Passes Unemployment Extension
WASHINGTON — After a breakthrough with the White House, the U.S. House overwhelmingly passed a bill Thursday night that would extend jobless benefits by 13 weeks to an estimated 4 million unemployed workers.
The Senate is expected to pass the legislation, which is combined with funding for the Iraq war, sometime next week. […]

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Michigan Unemployment Hits 8.5% in May.
Michigan’s unemployment rate leaped to 8.5 percent in May, the highest monthly level since the doldrums of October 1992, according to the state Department of Labor & Economic Growth. The shocking 1.6 point hike for the month comes just one month shy of the state’s eighth straight year of payroll […]

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Republicans Reject Unemployed
WASHINGTON (AP) — Senate Republicans blocked legislation Tuesday that would have given an extra three months of jobless benefits for all unemployed Americans, but congressional Democrats plan to bring the bill back by attaching it to an Iraq war funding measure.
Senate Majority Leader Harry Reid, D-Nev., tried to bring the House-passed unemployment extension […]

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House Rejects Jobless Bill
The House Wednesday rejected a temporary extension of jobless benefits, a measure that was widely expected to pass with a veto-proof majority. The final vote was 279 to 144.
The move came despite last week’s news that the May unemployment rate rose to 5.5 percent — the biggest one month jump in decades.
Democrats […]

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Unemployment Jumps to New High
8.5 Million Out of Work in May as Jobless Rate Soars
by Frank Langfitt

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Morning Edition, June 6, 2008 · The unemployment rate jumped by half a percentage point in May, with 8.5 million people out of work last month. The jump from 5 […]

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