Michigan's Economy

"We are no longer 50 out of 50. We have an opportunity to get to No. 1", said Governor Snyder recently. He's talking about the economy of Michigan, and he feels as though that "we are back." While Michigan is 10/50 for population, 1st in engineers per capita, seventh in manufacturing output, third in durable goods manufacturing, and sixth in patents issued to residents, the state was recently ranked only 28th in the best states for business. Most concerning is that it was ranked 47 out of 50 for Labor Supply, meaning that the quality of labor in Michigan is at the lowest of quality.

The state is ranked 12th for manufacturing output currently (and projected to drop to 14th), 31st in per-capita income, 37th in economic growth, and 34th in economic attainment.

I hate to sound negative, but are we "back" as Governor Snyder suggested? Specifically, the income inequality of Michigan is horrific, as we all know by now. This could be because of our low quality of labor supply, as well as the fact that 27% of the state hold bachelor degrees or higher. So, I ask the question of what needs to be done. We have investigated several routes to improving income inequality, but as a whole, what can be done to strengthen the economy? Infrastructure spending, better education, what could we as a Caucus come up with that will strengthen the economy, create jobs, and stimulate the state?

https://www.freep.com/story/money/business/john-gallagher/2018/03/30/michigan-economic-status-top-10-player/469047002/

 

 

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