Tagged: Michigan economy

Michigan’s unemployment rate declined to 9.1 percent in the month of October, while total employment rose by 13,000, according to a report released today by the Michigan Department of Technology, Management & Budget (DTMB).

The unemployment number is down eight-tenths of a percentage point from the same time last year.

Rick Waclawek, director of the Bureau of Labor Market Information and Strategic Initiatives,  said that Michigan has seen "modest improvements" in several labor market indicators since 2011.

Is Michigan better off than it was four years ago? The question is important when assessing the progress of both our state’s citizens and the politicians who govern it.

To further investigate this question, Stateside’s Cyndy Canty spoke with Michigan State University Economics Professor, Dr. Charley Ballard.

Although no simple answer to this question exists, Ballard felt generally positive about our state’s status.

“For the state as a whole, I would say the state is definitely better off than it was three years ago.”

The unemployment rate in Michigan is up four-tenths of a point from last month to 9.4 percent says a new report released by the Michigan Department of Technology, Management & Budget (DTMB).

This marks the fourth consecutive month that Michigan's jobless rate has increased.

The data reveal little change in the labor force, as the total number of unemployed increased by 16,000.

From the report:

Important signs are pointing to new life in Michigan's economy.

Brand-new reports tell us that Michigan's household income is up, foreclosure rates are down, and the poverty rate is down.

Some politicians and experts tell us the economy is beginning to bounce back. But here's the reality of the economic recovery: while jobs are available, they are not high-paying jobs.

Economist Dr. Charley Ballard of Michigan State University spoke to Cindy from East Lansing.

Last week, I talked about the Michigan House of Representatives voting to slash the state income tax over the next six years. I thought this didn’t make a lot of sense, given that the state is having a hard time paying for essential programs now.

Later that day, I talked more about this with the man I think has the best overall knowledge of our state’s economy: Michigan State University professor Charles Ballard, author of the best little book there is on the subject: "Michigan’s Economic Future."

Every so often, I run into someone with a simple solution that they believe would fix all our problems. Sometimes it is a flat tax. Sometimes it is single-payer health insurance.

But whenever someone stops me at the grocery store to explain their simple plan for saving mankind, or at least Michigan, all I can think about is H.L. Mencken’s famous maxim that, “for every complex problem there is a solution that is simple, neat and wrong.”

A Comerica Bank economist says Michigan's economy is making a comeback.   But clouds could be on the horizon.

For the first time in six years, Michigan has a balanced population.  An even number of people moved out of… and into… the state in 2011, according to Atlas Van Lines.

The report says Michigan is one of only three Midwest states to have a balanced population, including Iowa and South Dakota.

Ken Darga is the state demographer. He said some of the stabilization came from those left when unemployment hit its highest, and are now returning.

“People who left Michigan in previous years for economic reasons, are now able to come back now that the economy is improving,” Darga said.

Darga also attributes the balance to students who left the state for college and returned after graduation.

Inform our coverage: Have you or someone you know left the Midwest?