Hiring to jump as state (MI) adds jobs at 10 times expected rate

[Bozita]

Source: Detroit News

Last Updated: April 04. 2011 3:17PM
Hiring to jump as state adds jobs at 10 times expected rate
Brian J. O'Connor / Detroit News Finance Editor


The Michigan economy is off to a stronger start for the year than expected and will add more than 64,000 jobs this year — almost 10 times as many new jobs as economists predicted just months ago.

According to new data released this afternoon by the University of Michigan's Research Seminar in Quantitative Economics, the state will add 64,600 during 2011 and 61,500 during 2012. In November, the same economists expect job gains of 48,000 in 2011 and just 6,300 for this year.

"We estimate that 2011 began with robust job growth of 3.8 percent at annual rate, reflecting in part a bounce in manufacturing," George Fulton, director of the seminar, wrote in the new report.

Michigan's economy bottomed out in the third quarter of 2009, Fulton adds, and has shown stronger job growth than the nation as a whole during the weak recovery. Going forward, he writes, the position will flip. If that happens, it will echo past recessions, where Michigan's manufacturing-dependent economy showed high rates of unemployment quickly, but regained some of those lost jobs earlier and faster than the rest of the country.

Read more: http://detnews.com/article/20110404/BIZ/104040397/Hiring-to-jump-as-state-adds-jobs-at-10-times-expected-rate#ixzz1IaJeBvVh

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Wow!

That's some headline.

[xchrom]

1. good for them -- and i hope they are good jobs. nt

[theaocp]

5. and that's the kicker

It's speculation first, but later, when the dust settles, what kind of jobs are these? Indentured servants had jobs, too. I hate being more cynical than a stadium full of people, but I'd be more interested in what caused this than just bowing before the headline. Thanks for the good news, tho. :hi:

[Drale]

2. Their fascist Governor will try to take credit

[Kber]

3. Michigan could use some good news.

And this looks like good news to me.

[tridim]

4. Hundred bucks says Boner takes the credit.

[thereismore]

6. And republicans take the credit. No doubt. nt

[UrbScotty]

7. Thank You (former) Governor Granholm! (nt)

[wobblie]

8. michigan and gas

At $4.00 a gallon, auto sales will stall and job growth will disappear. I don't believe this study has taken into consideration the recent demise of Michigan's film industry.

[bloomington-lib]

9. Not sure that $4 would kill it

$4 or more will create a demand for the new shift to more fuel efficient cars. A lot of those American-made cars are going to be made in MI from what I understand. Plus, don't they have a growing Lithium battery operation there? GM said recently that they've underestimated the demand for Volts. One company,GE, just ordered GMs projected total manufactured in 2011 of something like 14,000.

[Billy Burnett]

10. I guess that laying off all of those gubmint workers really was a job creator.

:banghead: