Michigan Future has completed the second annual report on Michigan’s transition to a knowledge-based economy and what we found is stunning – the trends we have written about in our previous reports have accelerated in the downturn.
From when the recession began in December 2007 through January 2009, low education attainment industries (primarily manufacturing,
construction, retail and hospitality) have suffered job losses of 3,735,000, while the high education attainment industries have added 163,000 jobs. (High education attainment industries didn’t peak until August 2008 and have since lost 247,000 jobs.)
What made Michigan prosperous in the past is no longer a path to prosperity. The
knowledge-based economy is now the path to prosperity for Michigan.