Economy

Chief Economist Touts Union Membership, Biden’s Economic Plan at Michigan Advocacy Event

The U.S. Labor Department's chief economist called for unemployment benefits to be more accessible for people of color and make "historic investments" to the nation's infrastructure.

Target to Open Store in Midtown Apartment Complex

Target will open a Detroit store as the anchor in a Midtown apartment complex.

Business Coalition Unveils Plan to Spend $2.5 Billion From Fed Stimulus on Infrastructure

A coalition of business leaders and other organizations have unveiled a plan to spend some $2.5 billion of federal stimulus money on infrastructure.

OSHA Sends Mandatory Vaccine Policy Text to White House; OMB Review Up Next

President Biden last month ordered businesses with 100 or more employees to require COVID-19 vaccines or testing. That policy took one step closer to reality when OSHA sent initial text to the White House.

U-M Economic Study: Wayne County Recovery Expected to Be Strong But Uneven

A University of MIchigan economic study shows Wayne County will likely have recovered its pre-pandemic jobs by the end of 2023.

DTE Energy Helps Spark North End Redevelopment

DTE Energy is championing the redevelopment of an historic Detroit-area neighborhood.

Tesa Tape, Inc. to add at least 25 jobs and invest $36 million in...

Tesa tape, Inc.. is expanding its Sparta location, investing some $36 million and bringing in at least 25 new jobs.

Economy Added 194,000 Jobs in September; First-Time Unemployment Claims Fell

It’s been sort of a good news, bad news week in the American workforce. The good news first: Weekly claims for first-time unemployment benefits dropped for the first time in...

Experts: Third-Quarter Data Indicates Economic Pick-Up Coming in Fourth Quarter

U.S. economic data remained consistent with our expectation of cooler real GDP growth for Q3. Q2 real GDP growth was revised up slightly to a 6.7 percent annualized rate....

United Airlines Plans Largest Domestic Schedule Since March 2020

CHICAGO (PR Newswire) — United announced that it will fly its biggest domestic schedule since the start of the pandemic to meet an expected surge in holiday travel, with...

Experts: September Employment Gains Set ‘Positive’ Tone Headed to Fourth Quarter

Economists are saying that a "better than expected" ADP employment report for September sets a "positive tone" going into the fourth quarter.

Biden Uses Michigan Trip to Push Infrastructure, ‘Build Back Better’ Agenda

President Biden came to Howell Tuesday to promote his economic agenda. It was his fourth visit to the state since January.

Hello West Michigan Takes Home Two Awards for Excellence in Economic Development

Hello West Michigan was a two-time winner at the International Economic Development Council's annual conference.

Rivertown Market Opens in Detroit, Meijer’s 4th Neighborhood Market

Grand Rapids – Rivertown Market, located in downtown Detroit’s East Jefferson Corridor, opened today as the fourth market opened by Meijer and its first in the heart of the...

Experts: Federal Reserve Policy Dominates Economic News

U.S. economic news for the week was dominated by the Federal Reserve’s policy meeting. Strains at Chinese real estate group Evergrande dominated international headlines. Federal Reserve policy was unchanged on...

SBA on GAO Findings: PPP Program Increased Lending to Smallest Businesses, Underserved Communities

In the early days of the Paycheck Protection Program, the lending favored larger and rural businesses, according to a Government Accountability office analysis of Small Business Administration data. Specifically,...

GM to Invest $50 Million in Nonprofit Programs That Increase Economic Opportunity

DETROIT – General Motors today announced it will invest $50 million into Detroit-based nonprofit programs that expand access to education and employment opportunities and strengthen city neighborhoods. The initiative, launched...

SBA Hands Out $5.4 Million to Support Inclusive Entrepreneurship in the Innovation Ecosystem

WASHINGTON (GLOBE NEWSWIRE) — U.S. Small Business Administration Administrator Isabella Casillas Guzman announced 84 winners for the Growth Accelerator Fund Competition (GAFC) and eight winners for the Small Business...

Experts: Economy ‘Normalizing’ After COVID Shock, Still Has Long Way to Go

Economists say that, while the U.S. economy is normalizing after the shock of COVID, there are still at least three forces that remain to be fully absorbed.

Even in a Pandemic, Military Culture Gives Veterans Advantages in the Job Market

Especially in the pandemic era, businesses are finding that veterans are among the most motivated and work-ready people in the labor pool.
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