Michigan Economic Forecast Revised: Mostly Sunny

DETROIT (WWJ) – According to a respected University of Michigan economist, the worst may be over for the state’s economy.

WWJ Newsradio 950’s Paul Snider reports that U-M Economist George Fulton’s latest economic forecast paints a much rosier picture for the state hardest hit by the recession.

Fulton believes Michigan bottomed out in the summer of 2009 and has experienced sustained jobs growth since then, the first gains spanning a year’s time since 2000.

Fulton estimates that 2011 began with a robust annualized job growth rate of 3.8 percent, reflecting a revitalized manufacturing sector.

He’s predicting a more modest growth rate of eight-tenths of one percent in the second quarter, 1.1 percent by the end of this year and a healthy 1.9 percent in 2012.

  • Trademark Litigation

    Here is a similar story

    The Legislature and governor are moving swiftly to get Michigan back on track after years of budget deficits and a lagging economy.

    Lawmakers already have presented the governor with 16 bills for signature since January.

    The bills, many of which the governor called for in his State of the State address, will grow Michigan’s economy, protect the environment and help cities and schools stay financially sound.

    • Jille

      Did we just read the same article? Because it strangely sounds like you are crediting the current governor and legislature for “getting Michigan back on on track.” As the article itself states, “…reflecting a revitalized manufacturing sector.” When product starts moving, companies need employees to manufacture and sell it. That, and only that, is what creates jobs. If you sell, say, bikes, and no one has been buying bikes since the recession hit or buying bikes right now, it cannot help your business
      for the government to gift you money.
      You’ve already cut your staff (the
      recession is not new), and you only have
      the inventory you need. If I walk in and
      hand you thousands of dollars would you
      hire another salesman?
      Order more bikes and equipment to sit on
      your floor? How can you use that money
      to make your product move again?
      Advertising will get you nowhere, this state has the most unemployed per capita in the country. That money goes straight into your pocket, but not as profit and your profit does not increase. Without profit, you have no taxes. Because the governor gifted you that money, he has to take it away from someone else. Like schools, which is just plain damaging, but he’s got to increase someone’s taxes. In our case, the elderly and working poor. The working poor have less money now, there’s no way they can afford a bicycle. And the new governor and legislature have improved the
      economy how? Corporate tax cuts can not possibly create jobs. The middle class has to have the ability to pay for goods and services they can use. Period.

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