Michigan News
(2009-07-03)
Unemployed truck driver Allen Askew III gestures to the photographer while checking job listings at a jobs search agency in Detroit
The U of M forecast says the national recession and the unraveling of the auto industry helped kill any hope that Michigan's economic woes might be coming to an end.
The report says 2009 will be the worst year in more than a half-century, and that 2010 does not look great either. But forecasters say there could be moderate job gains in 2011.
Between mid-2000 and next summer, the report's authors say Michigan is expected to have lost close to a million jobs. That's a fifth of the workforce.
The report's authors say people in Michigan are expected to have more disposable income this year because of price deflation and a drop in federal taxes.
Contact Sarah Hulett at sarahhu@umich.edu
© Copyright 2009, Michigan Radio
