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In April 2008, metropolitan Detroit's unemployment rate was 6.9 percent; in November 2012, it was 7.9 percent. [2] [14] Economic issues include the city of Detroit's unemployment rate at 15.8 percent in April 2012. [2] The suburbs typically have low unemployment. The metropolitan economy began an economic recovery in 2010. [15]
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Detroit has experienced significant urban decay—the process in which a previously flourishing city falls into disuse and disrepair, characterized commonly by empty plots of land, abandoned, decrepit, and often vandalized buildings, high unemployment rates, and high crime rates. Detroit has become one of the most infamous examples of such ...
December 16 - A survey by the Department of Labor showed that seven of the top ten areas in the country for unemployment were located in Michigan. Flint ranked highest with a 16.4% unemployment rate. Bay City ranked second at 15%. Muskegon, Detroit, Saginaw, Jackson, and Battle Creek also ranked in the top ten. [263]
Detroit's unemployment, housing, and economy are trending in the right direction, and JPMorgan Chase has been a big part of the turnaround. JPMorgan Chase’s $200 million investment in Detroit ...
It has a population of about 190,000 and an unemployment rate of 3.8 percent. Other names not normally rolling off the tongue of urban dwellers include Sioux Falls (2.7 percent), Fargo (2.8 ...
Details from the Detroit bankruptcy filing. The city of Detroit, Michigan, filed for Chapter 9 bankruptcy on July 18, 2013. It is the largest municipal bankruptcy filing in U.S. history by debt, estimated at $18–20 billion, exceeding Jefferson County, Alabama's $4-billion filing in 2011. [1]
The resulting phenomenon of urban shrinkage and vacant lots only serve to perpetuate the unemployment and poverty plaguing the Detroit inner city. [3] In response to the issues of “urban blight,” Detroit has accelerated demolition projects with faster, less cumbersome guidelines, demolishing 3,739 vacant buildings in 2014. [4]
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