Dádìsì Speaks

In Uncategorized on 06/06/2012 at 09:43

24/7 Wall St.

The Bureau of Economic Analysis released its data on GDP growth by state for 2011. One of the trends the data show are that many of the states most badly hurt by the recession have recovered more sharply than other states. It is hard to say whether the trend is because their gross domestic products dropped so far that a modest recovery is meaningless or whether a genuine, sustainable recovery took hold. An answer to those questions will take a year or more of information to confirm one way or another. But 2011 GDP information is encouraging for several states.

One of the states most brutally battered by the downturn was Michigan. The state lost tens of thousands of jobs in the car industry. Some of those jobs returned last year. Miraculously, unemployment in April in Michigan was 8.3%, or about the national average. Not all of that can be…

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