UNBELIEVABLE: Michigan's Oct. jobless rate hits 7.7%

The jobless rate is the state's highest in 15 years, two-tenths of a percentage point higher than September's rate, and it almost certainly guarantees that Michigan will continue to post the worst state unemployment rate in the nation.

The national unemployment rate held steady at 4.7%. Many economists consider the nation "fully employed" when the unemployment rate is below 5%.

Michigan was dead last in the nation last month with a 7.5% unemployment rate, and #49 (Mississippi) was more than a full percentage point ahead of us at 6.4% unemployment. That 1.1% gap was the largest in the nation.

Another thing to consider when looking at the national unemployment rate of 4.7%. That low rate includes Michigan. Without the boat anchor state slowing things down, the national average would be even lower.

I can't find a definitive source showing the info, but by taking the 2005 population numbers and doing a bit of simple math, I come up with at national unemployment rate of 4.59 without counting Michigan.

Something to be proud of, isn't it?

Hopefully, raising taxes will get businesses flocking in our direction so they can hire more employees.