Tagged: economy

3 million jobs in 3 years. That's what soon-to-be-former-Governor Jennifer Granholm called for in her article in the Huffington Post.

Granholm calls for a "Jobs Race to the Top" modelled on the education "Race to the Top" program.

Dangle large sums of money in front of cash strapped states and see if you can get them to change their policies.

Perhaps another sign that the 'Great Recession' is thawing. Lending to people with a so-so credit score is on the uptick - at least in the car market.

The Associated Press reports "the percentage of loans going to subprime buyers rose 8% in the third quarter, their first year-over-year increase since 2007, according to a report issued Tuesday by Experian, a credit reporting agency."

The Detroit Free Press reports that a large scale wind turbine manufacturer plans to locate in Saginaw.

Northern Power Systems of Barre, Vt., intends to use a facility in Saginaw to manufacture its next-generation large wind turbines, expected to be the first ones built in the U.S. using 100% American-made parts.

Building wind turbines has been touted as a way to diversify a manufacturing base built around the automobile. Many auto suppliers in the state are also building parts for wind turbines. No report yet on how many jobs will be created.

But the future of wind power is uncertain. Tax credits and grants to develop wind energy are expiring at the end of the year. And with an ethic of austerity moving into Washington, there are little signs that they'll be renewed.

Governor-elect Rick Snyder will talk about economic issues at Wayne State University later this week, according to The Detroit Free Press.

Snyder will deliver the annual George R. Husband Distinguished Lecture Series keynote address on Thursday from 1-2PM.

The Series' website says the lecture is open to the public but reservations are required.

The current lame-duck Michigan legislature passed a tax incentive package this morning to encourage the development of a Michigan Aerotropolis. 

So what is it? Here's how the Detroit Region Aerotropolis explains the idea:

An Aerotropolis is an emerging type of urban form comprised of aviation-intensive businesses and those businesses that need to be readily connected to their customers. These businesses, and related enterprises, extend outward from a major airport.

Michigan Radio has been covering stories from across the state regarding labor and contract disputes. From the strike of the Detroit Symphony Orchestra to the dispute between the City of Flint and its Firefighters Union, it seems that workers and management are having a difficult time finding common ground these days.

So, we wondered, do strikes increase during a down economy?  We assumed they did.  Well, as they say, that's we get for assuming.  As it turns out, the struggling economy may have actually reduced the number of labor disputes resulting in strikes. According to the Bureau of Labor Statistics, there were fewer work stoppages affecting 1,000 or more workers in 2009 than in any other year since 1947, when the collection of this data began.

The White House is ramping up its efforts to get Congress to approve extended unemployment benefits for out-of-work Americans. Michigan's unemployment rate in October was the second-highest in the nation, at 12.8%.

The president's Council of Economic Advisers released a report that touts the need for extending benefits. The report says for the typical person getting unemployment, the benefits make up a third of the household income.  As Presidential adviser Cecilia Rouse noted:

And in those 42% of households where the unemployed person was the sole wage earner, it's about 90 percent of the income. So it's quite an important source of income for these families.

The report says about 620,000 people in Michigan received benefits through October.

Republicans in Congress say the cost of extending the benefits is too high. They want to look at budget cuts and tax cut extensions first.

We all know Michigan has been going through tough times. An unemployment rate of nearly 13%. Jobless benefits expiring for tens of thousands of people. Deep spending cuts coming to state and local governments.

But it may be tougher than you've thought.

 The Detroit New reports: