WASHINGTON DC - Michigan drivers heading into the Memorial Day holiday weekend could soon face gasoline prices approaching $5 per gallon as the escalating Iran conflict rattles global oil markets and raises fears of prolonged supply disruptions through one of the world’s most important energy corridors. The national average price for regular gasoline has climbed
WASHINGTON DC - The United States national debt is rapidly approaching an almost unimaginable milestone: $39 trillion. The number is so enormous that economists, policymakers and ordinary Americans alike often struggle to truly grasp what it represents. A trillion dollars is not merely “a lot of money.” It is wealth on a scale that defies
WASHINGTON DC - Americans are beginning to feel the cost of the U.S. war with Iran in two places that matter most: at the gas pump and in their investment accounts. Gas prices that hovered around $3.25 just weeks ago are now pushing toward $4.50 in parts of the country, including Michigan, as global oil
LANSING – At first glance, not much has changed in the latest monthly poll of the nation’s small business owners published by their leading advocacy association, the National Federation of Independent Business (NFIB). Inflation remains the top concern, but one component, the Uncertainty Index, rose an alarming nine points to 85, the highest reading since November
Unless you have been living under a rock for the last year, you would have been hard pressed to have avoided the constant flow of news about rising levels of inflation. Although the effects of this have been quite varied around the world, with some economies managing to grow despite increased inflationary pressures, such as
LANSING – Workforce shortages, inflation and supply chain disruptions remain the main obstacles Michigan’s small businesses are facing, according to a new survey released today by the Small Business Association of Michigan. “Though there is more optimism among small business owners, the struggles that are plaguing small businesses are still very prominent,” said SBAM President
DETROIT – Concerns about labor shortages and inflation are weighing on the minds of Michigan’s business leaders, according to a quarterly economic survey released today by Business Leaders for Michigan. Labor shortages are being felt across all job categories, including in manufacturing, office and front-line positions, with 85 percent of survey respondents expecting to have trouble
DETROIT - The November survey from the Conference Board predicts a 3.9 percent jump in wage costs for companies in 2022, compared to 3 percent reported in April - the highest rate increase since 2008. Indeed, the swell in compensation expectations for next year reflects rising wages for new hires and inflation. Salary increase budget refers
ANN ARBOR—In Donald Trump's first three quarters as president the U.S. economy has averaged a solid 2.4 percent growth rate, still well short of the 4 percent he promised as a candidate and under the 3 percent his first federal budget proposal assumed. University of Michigan economists are projecting that overall economic output growth, as
