‘This is going to be the only recession in history where income goes up,’ said University of Michigan economist Donald Grimes.
Business Watch
Covering the intersection of business and policy, and informing Michigan employers and workers on the long road back from coronavirus. Our Michigan Economic Dashboard shows key metrics that show how the state is performing.
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Michigan’s unemployed to get $900 more. System glitches remain
The state was approved for three more weeks of Lost Wages Assistance, and jobless workers should see that money by the end of September.
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As home prices rise in Michigan, so do worries about affordability
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.
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Whitmer: Michigan could remain in COVID-19 state of emergency for months
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.
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Q&A: Michigan builders want state’s help to build affordable homes
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.
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Coronavirus kept us home, igniting real estate frenzy in northern Michigan
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.
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Michigan businesses struggled during COVID. Customers are coming to rescue.
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.
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Michigan lawmakers may tweak unemployment law to help employers amid pandemic
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.
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Michigan economy is stronger than expected amid pandemic. Thank the stimulus.
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.
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Michigan’s permanent layoffs suggest thousands of jobs may be gone for good
Economists are starting to get data that indicate a longer, slower recovery period following steep job losses during the coronavirus pandemic.