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Merrier Holiday Expected for Michigan Workers

By Sally Maison
Published: Sunday, December 27th, 2009

For the first time since 2007, more people in Michigan are finding work instead of losing it. Moreover, the state’s business gets better as it turns to advanced technology, alternative energy, and movie making.

Merrier Holiday Expected for Michigan WorkersIt was a hard fought battle for survival by Michigan residents. The state has led America in terms of unemployment rates since 2004, causing thousands to see their finances and credit score crumble down. To make things harder, the number of unemployed surged by 310,000 in only 18 months. The total number of unemployed residents went up to 713,000 as more people stopped seeking work. Bankruptcies by large companies and higher credit score requirements are just some of the reasons why hundreds of thousands are discouraged from continuing to seek employment.

From a snapshot, the auto industry for Detroit appears stable as it still holds 120,000 workers it has been employing since June. The stability is caused by the federal government’s cash-for-clunkers program, which provided tax incentives to boost the country’s auto industry. However, this number is a landslide from the 42,000 auto workers Detroit had a year ago.

Michigan led the United States in economic prestige for much of the 20th century but it has ironically led this country in economic downfall this decade. This left the investments of entrepreneurs and the credit score of ordinary employees severely hurt.

However, some Detroit and other Michigan employees are finding better hopes because of new employment opportunities opening up for them. Ed Gordon, who used to work as a trucker, was laid off during the height of recession. This October, he got a role on the movie set of “Alleged,” filmed in the Flint area of Miami. It might mean a 23 hour drive for Ed just to get home, but being able to work again and rebuild his credit score is all worth it for him. His credit score currently stands at 550 and has altogether stopped using credit. Hopefully, his new financial practice would earn him a better credit rating.

Meanwhile, those who do not have work yet have strong reason to hope for a better year in 2010. Former Ford engineer Lorenzo Byrd is pursuing a master’s degree program that would give him an engineering job with military contractors. For people like Byrd and Ed, a financial and credit score recovery is imminent if the country is able to sustain its recovery’s momentum.

Experts note that Michigan residents, like most Americans, are hopping from one job to another just to keep up with this fluctuating economy. They add that many are willing to do everything just to have a better credit score and a brighter future.

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