K-shaped economy is how many describe our economy since the pandemic. And most expect the recovery to be K-shaped as well. The reality is that the Michigan economy was K-shaped pre-pandemic. With those at the top doing well, but far…
The pandemic is hardening our two-tier economy. One where those at the top are doing well, but way too many Michiganders are struggling. Low-wage workers have suffered the most since the onset of the pandemic and the forecast is that…
Terrific Bridge article on how hard it is for way to many out-of-work Michiganders to get unemployment insurance. The article's title says it all: Michigan unemployment system designed to slow payments working all too well. Bridge writes: A big source…
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…
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.…
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…
Really interesting research from the Federal Reserve Bank of New York on low-wage workers moving up to better-paying jobs. (You can find the research here and a summary article on the research here.) The report's core findings: Using data covering…
The Atlantic recently explored what the American economy might look like with full employment. Using today's metro Des Moines as the example. It's a region with very low unemployment and a high employment to population ratio. What is happening in…
Some in Lansing would have you believe that our economy is as healthy as ever, with the state’s unemployment rate as low as it’s been since the early 2000s. The problem is that the unemployment rate isn’t a great measure…
Our latest report, Sharing prosperity with those not participating in the high-wage knowledge-based economy, is based on two major understandings. The first is that even in a growing economy, a large portion of the population can still be struggling. Indeed,…