This dreaded quote is the reminder that to all Americans that the stock market crash is not going to go in and out fast. This headline from CNN shows all the readers how close and personal this really gets to the American society and how we operate as we do today. In class when it started, the outcome of this dramatic drop was unexpected and scary. This has never happened in the history of America, and was not going to pass with just a brush.
Through this article it shows the many facts of the downfall of the job losses. This is currently the ninth month streak of declining jobs, not good for anyone that has one or wants to get one. In the article they bring about different statistics that are currently going on, such as the statistics of the states affected by this crisis (in which was in the title). They went more in depth with that in which they found out that the worst decline in jobs is in Michigan. “Michigan lost 28,300 jobs in September and has lost 77,900 jobs in the past year”, was the quote that I found the most interesting because of the shear numbers. Then in second place: Georgia, with “22,300”! Not much of a subject to joke about, but these numbers looks like they should belong in a video game!
So what’s important to Michigan that we need? Well, Michigan is the biggest automobile manufacturing state, yes cars, motorcycles and AV’s. In which one of the hard hit car companies is General Motors (GM). “General Motors (GM, Fortune 500) announced that it would close a metal stamping plant near Grand Rapids, Mich., by the end of next year, co
sting about 1,340 hourly jobs.” Which is not good on anyone’s morning, it shows the economy in America unraveling as it was wound so tight. I will be great to see when America catches the spindle to stop this along with how much it has spun out.
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