The State of the State's Economy

By: Lori Dougovito
By: Lori Dougovito

The Governor's State of the State address comes at a lowpoint in Michigan's economy.

Last November, General Motors announced massive cutbacks and just this week Ford did the same. Taking jobs one step further, Michigan's unemployment rate continues to be among the worst in the nation. The annual rate dropped in 2005, first decline since 2000, but economists anticipate the rate to edge up again this year and in the following year.

Retailers also have reason to be less than excited about the state of the economy. Last year, sales increased by 2.8 percent which is slightly higher than the year before. But, holiday sales missed their projected mark.

There is some good news among the bad. General Motors' new state of the art plant under construction in Delta Township should help the economic climate, at least in mid-Michigan. Tuesday's state Supreme Court ruling, paving the way for Toyota to build a research center near Ann Arbor, could create highly skilled jobs.


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