We still rank 9th in unemployment. Incomes are relatively low in Michigan. The typical household in the state earns $52,492 a year, about $5,000 less than the typical American household. BUT GOVERNMENT KEEPS GROWING!
By several measures, the national economy is the strongest it has been in decades. The best ranked states tend to have fast-growing economies, low poverty and unemployment rates, high job growth, and a relatively well-educated workforce, while the opposite is generally the case among states with the worst ranked economies.
+ 5 yr. GDP annual growth rate: +1.6% (17th largest increase)
+ 2017 GDP: $440.3 billion (13th largest)
June 2018 Unemployment: 4.5% (tied — 9th highest) + 5 yr. annual employment growth: +1.3% (17th largest increase)
+ Michigan’s 4.5% June unemployment rate is higher than that of most states and well above the 3.8% U.S. unemployment rate. The relatively high unemployment is partially
attributable to longer term employment declines in certain industries. Over the last five years, the state’s mining and logging industry, as well as the other services industry and government sector, have each shed jobs.
+ Incomes are relatively low in Michigan. The typical household in the state earns $52,492 a year, about $5,000 less than the typical American household Article