Economy

Expert: Heightened Market Volatility Merits Review Whether or Not Near-Term Technicals Reflect Longer-Term Fundamentals

The financial markets have struggled in the new year. A variety of concerns, including the rapid spread of the Omicron variant, surging inflation, policy tightening, geopolitical tensions and extended...

Whitmer Talks Taxes, Economy, Education in State of the State Address

Gov. Gretchen Whitmer went on the road with her fourth State of the State address Wednesday to talk about tax cuts, economic incentives, health care and education.

Tax Incentives Helped Michigan Land GM’s $7 Billion EV Investments

The Michigan Strategic Fund approved some $834 million in incentives just before General Motors announced its $7 billion investment in the EV industry in Michigan.

GM: $7 Billion EV Investment in Michigan to Create 4,000 New Jobs, Retain 1,000

General Motors announced a $7 billion investment in electric vehicle production that officials say will create 4,000 new jobs and retain another 1,000.

First-Time Unemployment Claims Rise as Omicron Affects Job Market

The number of people seeking new unemployment benefits has been dropping, or at least holding relatively steady, the last few months. So much for that streak. The number of U.S. workers...

Yellen Tells Mayors COVID-19 Stimulus Was ‘Like a Vaccine’ to Economy

When Dr. Elaine Buckberg, the chief economist for General Motors, took part in the recent Detroit Economic Club Economic Outlook webinar, she was asked whether all the federal stimulus...

Council on Underserved Communities Holds First Virtual Meeting

WASHINGTON, D.C. (Globe Newswire) — Administrator Isabella Casillas Guzman, head of the U.S. Small Business Administration, joined John W. Rogers, Jr., Chairman of the Council on Underserved Communities, last...

Omicron Surge Disrupts Essential Services From Restaurants to Grocery Stores to Schools

Workers in restaurants, grocery stores, the trucking industry and schools have all been hit hard by Omicron, and the virus is disrupting everything once again.

Experts: Retail Sales Slump as Omicron Advances

Experts at Comerica point out that retail sales dropped by 1.9% in December, a fall they say was fueld by the spread of the omicron variant.

Experts to DEC: Reasons for ‘Optimism’ Despite Record Inflation

GM's top economist and the head of the MEDC both expressed optimism for Michigan's economy, despite the presence of a 40-year high national inflation rate.

Supply Chain Expert Explains Highest Inflation Hike in 40 Years

Bearing out dark forecasts made by economists in the fall, inflation continued to rise in December — making 2021 the steepest inflationary increase the country has seen since 1982. The...

First-Time Unemployment Claims Climb Back to 230,000

First-time claims for unemployment assistance from American workers fell steadily over the last few months, dipping below 200,000 (the lowest in 50 years) in November and December. That streak ended...

Toyota Tops U.S. Auto Sales for 2021, Ending GM’s 90-Year Streak

General Motors had a long, successful run as the country’s top-selling automaker In 2021, though, that run came to an end. Toyota Motor dethroned GM last year, ending a run that...

U.S. Adds 199,000 Jobs in December; First-Time Unemployment Claims Rise Slightly

Expectations of a better jobs performance in December than the U.S. had in November were dealt a blow when the Bureau of Labor Statistics released its December 2021 jobs...

Experts: December Shows Strong Job Gains Despite Omicron

With more than 800,000 jobs created, December turned out to be a strong month for job growth despite the effects of the omicron variant.

Bipartisan Legislation Aims to Help State Attract Investment, Create Thousands of Jobs

Administration says bipartisan bills signed by Whitmer will support small businesses, invest in a $1 billion economic development fund and build on Michigan's ongoing economic momentum.

Huron Capital Acquires TriStruX, 22-Year-Old Firm’s Sixth Platform Investment in 2021

Huron Capital set a record in 2021, making the acquisition of TriStruX Huron's sixth platform investment in 2021.

Biden Plan to Fight Off Omicron Includes Free Home-Testing Kits, Help for Hospitals

President Joe Biden announced a variety of steps -- including free home-testing kits and military help for hospitals -- designed to fight off the latest COVID-19 surge.

Federal Court Lifts Stay on Biden’s Big-Business COVID-19 Vaccine Mandate

A federal court in Cincinnati lifted the stay imposed on President Biden's vaccine mandate for large businesses, although the ruling is likely to be challenged in the U.S. Supreme Court.

Ross, Ilitch Building $250 Million Detroit Center for Innovation in The District Detroit

Stephen Ross' Related Companies and Ilitch Holdings announced they'll build the $250 million Detroit Center for Innovation in The District Detroit.
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