Outlook for Michigan's Economy

By: Lori Jane Gliha
By: Lori Jane Gliha

Experts say Michigan's economy is looking up, but uncertainties like war are causing a sluggish recovery.

Economists say businesses could be hesitant to invest and to hire as a result of the impending threat of war. Experts also say if war occurs, oil prices will likely rise, in turn causing gas prices to increase.

Experts say unemployment rates are likely to decrease by only a few tenths of a percentage this year, but in two or three years, economists predict unemployment rates will decrease significantly.

Experts recommend people set aside some money for long-term savings.


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