University of Michigan economist says Michigan's job market is making a comeback
The state of Michigan seems to be making a comeback in the job market
While it may not be progressing at the same pace as Washtenaw County — which is on track to recoup all jobs lost in the recession by the end of the summer — things are looking up for the Great Lakes state.
At the state’s revenue estimating conference in Lansing, University of Michigan economist George Fulton, who prepares an annual economic forecast for Washtenaw County, said Michigan should see the return of 44 percent of lost jobs by the end of 2015, according to a story in the Detroit Free Press.
George Fulton presented his annual economic outlook for Washtenaw County in March.
Angela J. Cesere | AnnArbor.com
Similarly to Fulton’s assessment of Washtenaw County, the Free Press reported his colleague Joan Crary said at the conference that the housing sector is helping spur the recovery both nationally as well as in Michigan. Fulton also projects continued light vehicle sales growth and his models show the Detroit Big 3 increasing their market share as well.
Ben Freed covers business for AnnArbor.com. You can sign up here to receive Business Review updates every week. Reach out to Ben at 734-623-2528 or email him at benfreed@annarbor.com. Follow him on twitter @BFreedinA2
Comments
Dcam
Thu, May 16, 2013 : 1:10 p.m.
Why not rerun Rick Haglund's Ann Arbor News' front page story where the University of Michigan economists said Michigan needs to rid itself of its manufacturing base, and the quicker the better. Michigan economic growth could not happen as long as manufacturing is in the state, claimed they in 2001. A decade of economic disaster later, they now are claiming the economy is growing because manufacturing is growing. Everybody, except UM economists and those mesmerised by them, knows manufacturing is the true economic engine of any country, state or city.
clownfish
Thu, May 16, 2013 : 12:23 p.m.
Last week PALL left because of government. This week job growth is better because of government. How nice to be able to lay All Things at the feet of government. So much easier than understanding of complex issues.
leaguebus
Thu, May 16, 2013 : 4:53 a.m.
Snyder can take no credit for the better economic outlook. It's the auto bailout that is fueling the jobs and revenue increases. The Republicans and other austerity mongers have been on the wrong side of the jobs issue since they crashed the economy 5 years ago. Snyder has done his best to keep the state economy in the doldrums by throwing out the business tax, raising taxes on the poor, what's left of the middle class and retirees, and forcing the layoff of thousands of teachers and public safety personnel. The tax shift hasn't really started to affect the state economy yet, but it will. The other job killer is the state of the roads and the water/sewer/electrical infrastructure. That $2B tax cut for business could have gone a long way to help rebuild this failing infrastructure.
Top Cat
Wed, May 15, 2013 : 5:36 p.m.
I guess there are not going to be a lot of people lining up to give Lady Jennifer of Berkeley credit for this.
Bcar
Wed, May 15, 2013 : 5:32 p.m.
Damn you Snyder... how dare you bring jobs and money back to this state! (roll eyes...)
harry b
Wed, May 15, 2013 : 4:41 p.m.
Gov. Snyder policies are pro business. This is not surprising.
Rick Stevens
Wed, May 15, 2013 : 8:36 p.m.
Pro business and anti-worker and anti-Middle Class. Synder thinks of his business buddies and the wealthy first and foremost. Just look at the free money thrown at businesses (with NO accountability for creating one job) and the tax revamp and who it favored.
Usual Suspect
Wed, May 15, 2013 : 6:25 p.m.
It's too bad businesses don't employ people, or they would benefit as well. Oh wait....