CHICAGO - Michigan could lose up to 108,000 jobs next year, pushing its unemployment rate over 10% through 2010 before seeing some recovery in 2011, University of Michigan economists said Friday at their annual economic forecasting conference.

Already suffering from a weak housing market, the state will face challenges stemming from a national recession and continued woes afflicting the U.S. automobile industry. Even assuming that the Big Three win substantial government assistance in the near term, the industry is still likely to employ less than a third of the workers in 2010 than it did in 2000, economists predicted.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.