The case for a cash-based safety net
As we have explored in our lessons from a pandemic-driven economy posts (here and here) what the multitude of low-wage workers need most is cash. Everyday in every Michigan community we see the vast number of low-wage workers––some still working, many who have lost their job––who are struggling to make ends meet. You now don’t […]
Who loses most in a pandemic-driven economy
Insightful analysis from McKinsey on the economic consequences of a pandemic-driven economy. Their headline findings are: We estimate that up to 57 million US jobs are now vulnerable, including more and more white-collar positions. … Our updated model finds that as of mid-April, 16 percent of workers earning more than $70,000 a year have become […]
The Blanchard recipe for economic revival
As Michigan, almost certainly, faces its most serious economic challenge since the Great Depression, it is worth recalling how Michigan has dealt with previous economic downturns. What follows is a rerun of a post I did in 2012 entitled Jim Blanchard, Jobs and Taxes. It has been lightly edited and the data brought up to […]
Pandemic lessons: savings are vital
We are all told that we need to have savings of 3-6 months to deal with emergencies. One of the lessons we are learning from our pandemic-driven economy is that a lot of workers don’t earn enough to have savings. Everyday, in every community in Michigan, we are confronted with the vast number of low-wage […]
Jerome Powell on the safety net and work
Federal Reserve Chair Jerome Powell made clear in recent Congressional testimony that a strong safety net is the not the cause of the decline in labor force participation. In a terrific article about Powell’s testimony, the Washington Post writes: U.S. senators asked Federal Reserve Chair Jerome H. Powell about labor force participation this week, especially […]
Economic lessons from the pandemic
The call to action we co-authored with economic and community development leaders from across the state was released just prior to the pandemic slamming Michigan. It calls on our state, regional and community leaders to make rising household income for all a preeminent priority of state and local economic policies and programs. To make the […]
Recommended reading on the economy and education
For those of you looking for something to read, other than about the coronavirus, here is a list of books about the economy and education that have been the most helpful in our understanding of the realities of how people earn a living today and likely tomorrow; what skills are most important to doing well […]
Our Detroit News op ed
The Detroit News recently published an op ed I co-authored with Sandy Baruah, president and CEO of the Detroit Regional Chamber, and David Meador, vice chairman and chief administrative officer of DTE Energy. All three of us are also co-authors of the Rising Income For All call to action. Our News op ed makes the […]
The market says college is relevant
I am a long-time fan of Kettering University. Particularly their integration of learning and work with their one semester at school followed by one semester working in the industry the student is preparing for. Having said that I could not disagree more with Kettering’s President Robert McMahan when he says in a Bridge interview: At […]
Michigan Future’s most-read blogs
Month after month, year after year, there are four most-read blogs. All have in common an exploration of the skills and occupations that are most rewarded in today’s labor market. That those skills are not occupation specific, but rather broader career rock climbing skills. And that the careers most rewarded are professional and managerial, not […]