Mon, Sep 22, 2014, 4:52 PM EDT - U.S. Markets closed

Recent

% | $
Quotes you view appear here for quick access.

DTE Energy Company Message Board

  • curiousonemich curiousonemich Jul 19, 2007 8:04 AM Flag

    Woeful Michigan Economy

    Michigan's unemployment rate is just above 7% now vs. 4.5% nationally. Michigan loses jobs; US employment increases.

    http://hosted.ap.org/dynamic/stories/M/MI_UNEMPLOYMENT_MICH_MIOL-?SITE=MIDTN&SECTION=HOME&TEMPLATE=DEFAULT

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • Michigan employment is down vs. last year; Detroit employment is down even more; U.S. employment is up vs. last year.

      Source: Michigan's DLEG; household survey

      http://www.milmi.org/admin/uploadedPublications/463_econsit.htm

    • Here's Michigan's payroll employment decrease from the year before:

      State and Area Employment, Hours, and Earnings

      12 Months Percent Change
      Series Id: SMU2600000000000001Not Seasonally AdjustedState: MichiganArea: StatewideSupersector: Total NonfarmIndustry: Total NonfarmData Type: All Employees, In Thousands

      Series Id Year Period Value
      SMU2600000000000001 2006 Jan -0.6
      SMU2600000000000001 2006 Feb -1.0
      SMU2600000000000001 2006 Mar -0.8
      SMU2600000000000001 2006 Apr -1.2
      SMU2600000000000001 2006 May -1.3
      SMU2600000000000001 2006 Jun -0.9
      SMU2600000000000001 2006 Jul -1.2
      SMU2600000000000001 2006 Aug -1.1
      SMU2600000000000001 2006 Sep -1.6
      SMU2600000000000001 2006 Oct -1.2
      SMU2600000000000001 2006 Nov -1.4
      SMU2600000000000001 2006 Dec -1.3
      SMU2600000000000001 2006 Annual -1.1
      SMU2600000000000001 2007 Jan -1.4
      SMU2600000000000001 2007 Feb -1.1
      SMU2600000000000001 2007 Mar -1.0
      SMU2600000000000001 2007 Apr -1.2
      SMU2600000000000001 2007 May -1.2
      SMU2600000000000001 2007 Jun -1.4
      SMU2600000000000001 2007 Jul -1.5(p)
      p : Preliminary.

    • Here's the % increase in US payroll employment vs. last year:

      Employment, Hours, and Earnings from the Current Employment Statistics survey (National)

      12 Months Percent Change
      Series Id: CES0000000001Seasonally AdjustedSuper Sector: Total nonfarmIndustry: Total nonfarmNAICS Code: N/AData Type: ALL EMPLOYEES, THOUSANDS

      Series Id Year Period Value
      CES0000000001 2006 Jan 2.0
      CES0000000001 2006 Feb 2.0
      CES0000000001 2006 Mar 2.1
      CES0000000001 2006 Apr 2.0
      CES0000000001 2006 May 1.9
      CES0000000001 2006 Jun 1.8
      CES0000000001 2006 Jul 1.7
      CES0000000001 2006 Aug 1.7
      CES0000000001 2006 Sep 1.8
      CES0000000001 2006 Oct 1.8
      CES0000000001 2006 Nov 1.7
      CES0000000001 2006 Dec 1.7
      CES0000000001 2007 Jan 1.6
      CES0000000001 2007 Feb 1.5
      CES0000000001 2007 Mar 1.4
      CES0000000001 2007 Apr 1.4
      CES0000000001 2007 May 1.5
      CES0000000001 2007 Jun 1.4
      CES0000000001 2007 Jul 1.3(p)
      CES0000000001 2007 Aug 1.2(p)
      p : preliminary


      The deceleration in national payroll growth will likely prompt the Fed to ease on Tuesday. Good news for DTE investors.

    • I'm not spinning anything -- just reporting the facts and correcting your misrepresentations. Here's the monthly US #s (again) for 2006-2007 from BLS's payroll survey:

      CES0000000001 2006 Jan 135110
      CES0000000001 2006 Feb 135410
      CES0000000001 2006 Mar 135659
      CES0000000001 2006 Apr 135803
      CES0000000001 2006 May 135906
      CES0000000001 2006 Jun 136030
      CES0000000001 2006 Jul 136252
      CES0000000001 2006 Aug 136438
      CES0000000001 2006 Sep 136636
      CES0000000001 2006 Oct 136745
      CES0000000001 2006 Nov 136941
      CES0000000001 2006 Dec 137167
      CES0000000001 2007 Jan 137329
      CES0000000001 2007 Feb 137419
      CES0000000001 2007 Mar 137594
      CES0000000001 2007 Apr 137716
      CES0000000001 2007 May 137904
      CES0000000001 2007 Jun 137973
      CES0000000001 2007 Jul 138041(p)
      CES0000000001 2007 Aug 138037(p)
      p : preliminary

      As you can see, each and every one of these 2007 figures exceeds the 2006 experience. Repeat this comparison for Michigan and you will see that Michigan is down on a year-over-year basis for every month this year.

      While it is true that recent monthly numbers have shown weakness and this is why the Fed will ease next week (good news for DTE investors), the reality is that we are still up vs. last year using national figures and down from last year using Michigan #s.

      By suggesting that I believe that all of the state's problems are attributable to Gov. Granholm, you are clearly lying. As I have stated on this site before, there is plenty of blame to go around including the signfificant loss of market share by the Big 3. However, she is clearly part of the problem as illustrated by the constant budget squabbles in Lansing and the failure of the state's unemployment to meaningfully decline from the 7% level since 2003, notwithstanding national economic growth.

      You stated that "staggering job losses" were forthcoming. This is exceedingly unlikely since the Fed will be easing. If these losses were forthcoming, you should have a "strong sell" recommendation on DTE and not a "hold". Remember the old adage that Michigan comes down with pneumonia when the nation catches a cold. I believe Fed easing will aid the economy and DTE.

      Once again, we see that numbers are disciplining your uninformed rhetoric. By championing your concern for the common people, it appears we all understand who is on their high horse. Perhaps the common people would be better off in Michigan if employment had been growing vs. last year and the years before that.

      P.S. Shame on you for spinning; shame on you for lying.

    • Wow, very insightful. I have no idea what you are talking about and I believe you do not either.

      The Michigan economy is obviously in trouble. Fed easing will help DTE. Antagonizing buyers of domestic cars is not a prudent strategy since it hurts DTE's industrial electric sales.

    • Just like yours, remember??

    • Another month and another employment decrease in Michigan. By contrast, US employment is up.

      http://www.bls.gov/news.release/metro.t03.htm

    • I'm sick of you using this forum for your platform. Do you even own any DTE stock?

    • Maybe if the big 3 had started building better cars years ago, some of this might not have happened. The arrogant attitude GM had when one CEO said " whats good for GM is good for the USA"

      • 2 Replies to wb8mkv
      • That quote was from engine charlie wilson but you got it wrong. What he really said was, "what's good for America is good for GM."

        However, in other areas you are correct. GM has bowed to the UAW and allowed their cost structure to be out of control and they have produced a string of blah cars.

        The other problem is that Michigan has failed to diversify their economy. This is mostly a government problem. I watch the state run the chemical industry out of Michigan in the late 70s and early 80s (mostly by attorney general frank kelly). Then in the 80s the state was hostile to expansion of agribusiness when they faiiled to permit several large oilseed process facilities. Michigan got pretty much what they wanted.

      • You are correct. Plenty of blame to go around such as mgm't problems, labor issues, and poor governmental policies.

        The implication of these job losses is continued population outmigration (i.e. bad news for DTE) and deflation in housing prices (ie. bad news for homeowners).

 
DTE
75.80-0.50(-0.66%)4:04 PMEDT

Trending Tickers

i
Trending Tickers features significant U.S. stocks showing the most dramatic increase in user interest in Yahoo Finance in the previous hour over historic norms. The list is limited to those equities which trade at least 100,000 shares on an average day and have a market cap of more than $300 million.