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economics

Courtesy of Micheline Maynard/Forbes Media

Two-thirds of all restaurants will fail within three years of first opening their doors, a statistic that could be attributed to an owner’s desire for expansion only after a few months of profits.

“Hometown Holdouts” is a new e-book that breaks down the success of businesses that chose to stay local, despite nationwide recognition. Author Micheline Maynard says "hometown holdouts" benefit their communities, and resist the pressure to expand.

U of M economists predict more job growth for Michigan

Nov 20, 2015
Fortune cookie
Flazingo.com / Creative Commons http://michrad.io/1LXrdJM

Michigan is set to regain two-thirds of the jobs lost in the state since the Great Recession.

According to the annual economic forecast from the University of Michigan, there will be close to 126,000 new jobs in the state within the next two years.

Bytemarks / flickr http://j.mp/1SPGCl0

In 2016,  the U.S. economy will grow at the fastest pace in 10 years, according to the University of Michigan's annual economic forecast.

They're also predicting annual unemployment will drop below 5% next year, for the first time since 2007.

The forecasters say nearly five million new jobs will be added over the next couple of years, which could be especially good news for part-time workers seeking full-time jobs.

Honeycrisp apples are explosively popular.
University of Minnesota

In our little informal apple poll, Michiganders agreed: Honeycrisp apples are the tastiest apple to eat.

Unfortunately, your love for Honeycrisp apples could be the reason why they are so pricey.

Up until 2008, farmers had to pay a royalty on Honeycrisp apple seeds to the University of Minnesota, where they were first developed.

Oil and gas drilling in Michigan down significantly

Aug 20, 2015
Hydraulic fracturing rig
flickr user Eusko Jaurlaritza / http://j.mp/1SPGCl0

Drilling for oil and gas in Michigan is down to levels not seen since the Great Depression.

And so far, newer methods of hydraulic fracturing, or fracking, are not producing a new boom for the industry.

The number of permits issued for new oil and gas wells so far this year is on track to be the lowest in more than 80 years.

Photo: Michelle Ann Photography

Michelle Balconi believes you can make economics something to “chat about” – and you can do it in a book aimed at children.

She’s a writer and a mother from Grosse Pointe Park who has teamed up with renowned Reagan administration economist Arthur B. Laffer and Clinton Township artist Mary Kinsora to create the book Let’s Chat About Economics, a nuts-and-bolts guide to economics.