Michigan State Economics Professor, Charles Ballard says layoffs can have a serious impact on mid-Michigan’s economy, even layoffs where workers keep the majority of their salary.
He says, because most workers may not know where they will be working in the future at GM, many will choose not to spend on big ticket items.
He says locally that could mean slumping car sales, house sales and decreases in large appliances like; TV’s, washers and dryers.
Ballard, union officials as well as GM says the layoffs are all linked to the economy.
The economics professor says until there’s a greater upturn in the auto industry big ticket spending locally may be in doubt for those 950 workers.
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