- Posted May 17, 2013
- Tweet This | Share on Facebook
Mich. economy in 4th year of recovery, housing up
LANSING (AP) -- Economists say Michigan's economy is turning around for the fourth straight year in part because the housing sector is on the mend.
University of Michigan experts told state lawmakers Wednesday that employment grew significantly faster in the past two years than previously estimated.
Michigan's unemployment rate dropped 1.3 percentage points in 2012 and is expected to continue gradually declining.
The downside is the state's jobless rate is high, above where it was before the national downturn in the economy in 2008.
A six-year recovery through 2015 will only replenish four of nine Michigan jobs lost between 2000 and 2010. Legislators are meeting to get an update on the economy and to receive an estimate of how much more revenue Michigan is taking in before they approve the next state budget.
Published: Fri, May 17, 2013
headlines Oakland County
headlines National
- 50 Years of Service: ABA has been a ‘stalwart ally’ for LSC funding
- ACLU and BigLaw firm use ‘Orange is the New Black’ in hashtag effort to promote NY jail reform
- Biden recalls time he bluffed knowledge of torts case and why he changed his mind about civil-trial work
- Lawyers’ ‘barrage of personal attacks’ on opponents started with tissue-box toss, appeals court says
- Longtime prosecutor resigns after judge tosses him from case, citing Perry Mason-type revelations
- 24% of law students expect to work in public service, survey says