A surprising lack of diversity
… the U-M economists now expect Michigan will be a job-creating machine for at least 20 months — adding 64,600 jobs this year and another 61,500 jobs in 2012. That’s a total of 126,100 jobs by the end of next year, 61,800 more than projected in the November forecast.
What accounts for the big upward revision so quickly? The same thing that always has pulled Michigan out of recession — a fast rebound by the auto industry and other manufacturers. MLive
Also see: “Auto industry faces shortage of engineers” Detroit News
So much for my theory of recession that stated, “Northwest MI can recover faster because of less dependence by Michigan on automobile manufacturing.” Will have to revisit this. Perhaps the statement “and other manufacturers” will point to a difference, but if these manufacturers mainly support the auto industry, my theory is toast.