Economy Archives

Fed Raises Rates: Michigan Jobs, Auto Sales And Economy Face New Pressure

Fed Raises Rates: Michigan Jobs, Auto Sales And Economy Face New Pressure

ANN ARBOR - Michigan jobs, auto sales, home purchases and business investment face new pressure after the Federal Reserve raised interest rates Wednesday, making borrowing more expensive at a time when the state's economy is already growing slowly. For Michigan families and businesses, the impact can be measured in monthly payments. A $40,000 five-year auto

By Mike Brennan|2026-09-16T15:14:50-04:00September 16th, 2026|Economy|

Michigan Hit With America’s Highest Tariff Cost Per Household — $5,619 And Counting

Michigan Hit With America’s Highest Tariff Cost Per Household — $5,619 And Counting

DETROIT — Michigan has absorbed the highest estimated tariff burden per household in America — the equivalent of $5,619 per household since President Donald Trump returned to office — largely because the state's automotive and manufacturing economy sits directly in the path of the global trade war. Michigan businesses have been hit with an estimated

By Mike Brennan|2026-09-14T11:38:33-04:00September 14th, 2026|Auto Tech, Economy|

Michigan’s 50 Hottest Jobs Through 2034: You May Not Need A Four-Year Degree

Michigan’s 50 Hottest Jobs Through 2034: You May Not Need A Four-Year Degree

AI, health care, advanced manufacturing and skilled trades dominate Michigan's new Hot 50 forecast — offering a road map to where the state's economy is heading. LANSING — Michigan's economy may increasingly run on artificial intelligence, automation and massive computing power. But somebody still has to build it, wire it, repair the machinery and keep

By Mike Brennan|2026-09-10T12:52:26-04:00September 10th, 2026|Economy, ESD|

Canada Hits Back At Trump With New Tariffs — Michigan Is In The Crosshairs

Canada Hits Back At Trump With New Tariffs — Michigan Is In The Crosshairs

DETROIT — Canada's new retaliatory tariffs on U.S. products took effect Tuesday, putting Michigan jobs, small businesses, manufacturers, farmers and potentially grocery bills directly in the middle of an escalating trade war with the state's largest foreign customer. For Michigan workers, the most immediate concern is jobs. Michigan exports support an estimated 230,000 jobs, including

By Mike Brennan|2026-09-08T13:41:51-04:00September 8th, 2026|Auto Tech, Economy|

$4 Gas Is Just The Beginning? Iran War Could Put Michigan Winter Heating Bills At Risk

$4 Gas Is Just The Beginning? Iran War Could Put Michigan Winter Heating Bills At Risk

About 77 percent of Michigan homes rely on natural gas for heat. As families finish a summer of $4 gasoline, the prolonged Iran war raises another pocketbook question: What happens to heating bills this winter? ANN ARBOR — Michigan families are ending the summer driving season paying more than $4 a gallon for gasoline. Now

By Mike Brennan|2026-09-07T12:20:04-04:00September 7th, 2026|Economy|

Labor Day 2026: Are American Workers Better Off Than When Trump Took Office?

Labor Day 2026: Are American Workers Better Off Than When Trump Took Office?

WASHINGTON DC - American workers are earning bigger paychecks than when President Donald Trump returned to the White House in January 2025. But after accounting for inflation, much of that increase has disappeared. Energy costs have risen sharply. Food and housing cost more. Mortgage rates remain near 7 percent. And in Michigan, the labor force

By Mike Brennan|2026-09-07T12:21:09-04:00September 7th, 2026|Economy, Featured|

Diesel Just Hit A Record $5.85 — Here’s Why Everything In Michigan Could Get More Expensi

Diesel Just Hit A Record $5.85 — Here’s Why Everything In Michigan Could Get More Expensi

The U.S.-Iran war has helped drive diesel prices to record territory, creating another inflation threat for Michigan as higher fuel costs ripple through trucking, agriculture, manufacturing and eventually consumer prices. LANSING - Michigan consumers may be watching gasoline prices this Labor Day weekend. Michigan businesses should be watching diesel. The national average price of diesel

By Mike Brennan|2026-09-06T14:14:08-04:00September 6th, 2026|Economy|

Michigan Has A 4.9% Unemployment Rate — So Why Can’t Businesses Find Workers?

Michigan Has A 4.9% Unemployment Rate — So Why Can’t Businesses Find Workers?

Michigan has hundreds of thousands of unemployed workers. Small businesses say they still can't find qualified people to hire. New employment data help explain why both things can be true at the same time. LANSING - Michigan appears to have a labor-market contradiction. The state's unemployment rate stood at 4.9% in July, compared with 4.1%

By Mike Brennan|2026-09-04T12:50:30-04:00September 4th, 2026|Economy|

Tariffs Could Cost U.S. Families $1,100 A Year — What Michigan Consumers Could Pay

Tariffs Could Cost U.S. Families $1,100 A Year — What Michigan Consumers Could Pay

As tariffs raise prices on vehicles and consumer goods, the cost of President Trump's trade policies is becoming an issue in Michigan's Rogers-El-Sayed U.S. Senate race. ANN ARBOR — President Donald Trump's trade battles are increasingly moving from factory floors and international negotiating tables to someplace much closer to home: the family budget. Current U.S.

By Mike Brennan|2026-08-30T10:37:11-04:00August 30th, 2026|Economy|

Michigan Is America’s No. 6 State For Business — So Why Isn’t Its Economy Growing Faster?

Michigan Is America’s No. 6 State For Business — So Why Isn’t Its Economy Growing Faster?

Part 1 of 2: Michigan has climbed near the top of America's business rankings, but its economy, workforce and population continue to lag national growth. Next week, MITechNews asks Michigan economists and economic-development officials why. ANN ARBOR - Michigan has once again been ranked the sixth-best state in America for business, according to CNBC's 2026

By Mike Brennan|2026-08-29T15:37:06-04:00August 29th, 2026|Economy|