Thursday, April 09, 2015

Michigan Plummets in Economic Outlook Rankings Among States

Michigan Plummets in Economic Outlook Rankings Among States [Michigan Capitol Confidential]:
"There is troubling news for Michigan’s economy, according to the American Legislative Exchange Council’s annual “Rich States, Poor States” state competitiveness index.
The index ranks states on both economic performance in the past and the outlook for the future.
In the 2015 index Michigan experienced the worst decline of any state on economic outlook, dropping 12 places to No. 24. 
The index is based on 15 state policy variables found to be important indicators of where a state is heading economically.
The factors include eight measures of taxation plus measures of state debt, government employment, minimum wage mandates and right-to-work status.
The economic performance ranking, meanwhile, incorporates state domestic product, domestic migration, and nonfarm payroll employment changes from 2004 through 2013.
Michigan’s overall rank in this category is 50th among the states, the same as the previous year. "

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