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GM Bankruptcy’s Impact on Michigan
This graph shows the increase in Michigan’s unemployment since the Legislature and Gov. Jennifer Granholm raised taxes by $1.7 billion in October 2007. David Littmann, senior economist for the Mackinac Center, predicts the state’s unemployment could reach as high as 20 percent by the end of the year due to the financial difficulties of Chrysler and GM.
Source: Data from the Bureau of Labor Statistics