How is Michigan's economy doing? Check out Bridge’s new Economic Dashboard.

We learned this week that Michigan’s unemployment rate dropped to 4.7 percent in February, a far cry from the 22.7 percent that the state experienced in the early days of the pandemic, but still below the national rate.

Unemployment is but one measure of the state’s economic health and business climate. Other measures include the number of people now looking for work, the number of available jobs and — particularly in Michigan — how many people are buying new cars and trucks.

Bridge Michigan this week launched a new tool to help readers keep track of this data and more: The Michigan Economic Dashboard, which can be found on our Business Watch topic page.

Related:

• Borrowing is getting more costly: What interest rate rise means for Michigan
• Michigan gas prices may stay high. Where to find lowest prices, save money

It was created by Paula Gardner, business editor, and Mike Wilkinson, data reporter, as a means to keep track of many important elements of our changing economy.

The dashboard can help answer questions like: Are more Michigan residents back to work? Are they making more money? Are housing values rising or falling? Is Michigan keeping pace with the nation, and other nearby states?

The dashboard also can raise questions we expect to answer in our reporting over the coming year. Why, for instance, is Indiana’s unemployment rate so much lower than Michigan’s? 

We will update the tracker as new information arrives. We may add a one-time glimpse into a slice of the economy. We will begin to review the performance of Michigan-based public companies. The dashboard will pull in data from the state and other sources, such as the Federal Reserve, and will be updated as fresh data arrives. 

Please check it out, let us know what we’re missing, what can be improved, and what you want more of. We’re eager to get your feedback. Please email pgardner@bridgemi.com or mwilkinson@bridgemi.com with your thoughts and questions.