Displaying items by tag: WE Upjohn Institute for Employment Research
KALAMAZOO — Western Michigan University Homer Stryker M.D. School of Medicine helped add 1,600 mostly private-sector jobs and hundreds of millions of dollars in personal income and sales across the Kalamazoo region in 2020, according to an economic impact study.
The Biden administration’s $1.9 trillion American Rescue Plan Act is a big and bold injection into the U.S. economy that critics — such as all GOP members in the House and Senate who voted against it — have called unnecessarily expensive. However, supporters say the broad support for state and local governments and targeted relief to individuals and families will provide both immediate and long-term benefits. Susan Houseman, vice president and director of research at the Kalamazoo-based W.E. Upjohn Institute for Employment Research, said while the latest stimulus reflects Democratic spending priorities, it will also help to ensure a swift post-pandemic economic recovery. Houseman spoke with MiBiz a day after Congress approved the legislation and before it was signed by President Biden.
Ottawa County expects to have a better understanding later this year of exactly where gaps exist locally for broadband internet service so it can begin to address the issue.
Michigan’s economy could stand to benefit in the years ahead as manufacturers move to reshore work to the U.S. after dealing with severe disruptions in their foreign supply chains when the coronavirus first surfaced in China.
GRAND RAPIDS — West Michigan’s economy sits well positioned heading into 2021 to continue recovering jobs lost from the effects of the COVID-19 pandemic, experts said this week.
Two hundred and forty six days passed between Gov. Gretchen Whitmer’s first stay-at-home order to fight the COVID-19 pandemic and new state restrictions scaling back and closing some businesses.
University of Michigan researchers told state officials at this month’s revenue estimating conference they anticipate a gradual economic recovery in the next few years, resulting in an unemployment rate of 6.8 percent by the end of 2022.
The number of Michigan companies using work sharing has spiked during the COVID-19 pandemic but the state program meant to avoid layoffs still represents relatively few participants compared to the number of workers fully unemployed.
Shrinking revenue from sales, income and gasoline taxes could cost state and local governments billions of dollars in the coming months, potentially cutting already stretched services and leading to a prolonged recession without sufficient federal support.
Three weeks ago, Tim Bartik laid out a series of steps to encourage a “V-shaped” economic recovery from the coronavirus pandemic.