Labor & Economic News Blog


Wednesday, December 03, 2008

Over 3 million jobs would disappear if U.S automakers go bankrupt

Over 3 million jobs would disappear if U.S automakers go bankrupt
If bankruptcy shuttered one or more U.S. automakers, the effect would be the loss of up to 3.3 million jobs in the U.S. within the next year, according to a study released today by EPI. Michigan alone could lose over 400,000 jobs, and stands to be the hardest hit state both in the number of jobs lost and the share of total state employment (8.9 percent) lost. If the Big Three fall, they would take down more than auto worker jobs: when the wages from those auto sector jobs dry up, an additional 576,700 to 2.1 million "re-spending" jobs would be lost. The report, When Giants Fall, lists possible job losses in each state and the District of Columbia.

 



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