Sunday, June 26, 2011

Expert says Michigan's one-state recession is over

Expert says Michigan's one-state recession is over MLive.com
"From 2002-2007, much of the U.S. enjoyed economic prosperity while Michigan's economy was mired in a one-state recession.
The rest of the nation joined Michigan in economic misery during the Great Recession, which began in 2007 and officially ended in 2009.

And although it may not feel like it to the 500,000 or so people in the state still without a job, Michigan's one-state recession is definitely over as well, said Ken Darga, Michigan's state demographer, in his analysis entitled 'Is Michigan’s Economic Recovery Real?'

Michigan's one-state recession might have ended in 2007 if not for the beginning of the national recession, Darga said.

Darga's analysis doesn't explain why Michigan saw job gains shrink among new and expanding businesses from 2002-07, despite economic prosperity elsewhere in the country."

No comments: