What is scary is that the latest unemployment rate for Detroit is that it jumped more than 2 percentage points over the previous month and is now just over 17%!! That is now well over double our local unemployment rate and rapidly approaching the highest calculated unemployment rate here during the worst of the early 1980's.
Things to look for in coming months. July data will have beginning palpable impacts of casino employment. I also want us to get credit for all the G20 employment. Think about it. Those thousands of folks visiting will all be employed, though they won't count on our labor force metrics... But will there be local employment impacts in the near term from the G20 related activity?
* Technically the unemployment rate between May and June here went from 7.497% to 7.559%. But the data isn't really precise enough to report that many significant digits. But I'm serious. I bet that if the survey caught one more person working last month the change would go away in the reporting.