Covering the intersection of business and policy, and informing Michigan employers and workers on the long road back from coronavirus.
'This is going to be the only recession in history where income goes up,' said University of Michigan economist Donald Grimes.
The state was approved for three more weeks of Lost Wages Assistance, and jobless workers should see that money by the end of September.
Affordability and accessibility are a problem in the state’s housing market. Officials and industry experts are watching to see how the coronavirus pandemic affects that.
Amid frustrations from some business owners about emergency orders, Gov. Gretchen Whitmer says she’s weighing case counts, vaccine development and other factors in determining how long the crisis will last.
New construction remains suppressed across the state, and low- to middle-income residents are bearing the brunt of the lack of affordable new homes. Bob Filka, CEO of the Home Builders Association of Michigan, hopes to lead policy changes to make more building possible at mid-range prices.
Prices are climbing and competition is fierce as traditionally slow areas of Michigan become real-estate hotspots. No longer geographically tied to their workplaces and enjoying low interest rates, buyers are sparking a ‘feeding frenzy’ in northern Michigan.
Spending is up, even amid a pandemic. And many consumers are keeping money closer to home, saving a coffee shop near Saline and increasing traffic in downtowns.
Michigan’s reserves to pay jobless claims are dwindling amid record unemployment claims. Starting Jan. 1, employers would have to pay more into the system, but some lawmakers want to avoid that prospect.
Consumer spending is up amid the pandemic, as Michigan residents are spending federal bailout money designed to keep the economy going amid the pandemic. But state economists warn Michigan still faces tough times.
Economists are starting to get data that indicate a longer, slower recovery period following steep job losses during the coronavirus pandemic.
‘We need to find jobs that people can keep,’ says one store owner as the second-largest employer in Evart closed this summer. It’s just another blow to a community fighting for stability during the coronavirus pandemic.
Both races make less than they did 40 years ago when adjusted for inflation. But wages for Black workers have declined more since the 1970s, in part because of a loss of manufacturing and widening gap in educational opportunities.
A look at public filings shows that the leaders of the state’s largest auto businesses don’t yet see the end to COVID-19 slowdowns and sales contraction.
Cereal is selling well for Kellogg amid coronavirus, but many other public companies in the state are still struggling with low earnings.
Michigan emerged from the Great Recession with a good environment for new businesses. But it wasn’t great. Now, the challenge to improve is more urgent.
University of Michigan football makes some $122 million per year and supports a host of businesses throughout Ann Arbor. They’ve already endured the coronavirus. Can they survive the loss of the 2020 season?
Thirty jobs created during the COVID-19 pandemic is one sign that Reed City Group’s diversification into medical equipment is paying off.
The number of VC deals in the state dropped from 70 in the first half of 2019 to 41 this year, the lowest total in the past seven years. But several entrepreneurs found ways to survive during the pandemic.
Restaurant owners are “making hard decisions, literally, almost every day.” A $120 billion relief package before Congress could help.
TCF bank expands lending and housing opportunities for low-income people and groups impacted by discrimination in Detroit and other midwestern cities.