A respected economic report from the University of Michigan says the state’s economy has stalled, but growth is expected to return next year.
The country is still in the longest period of expansion in U.S. history. U of M economist Gabriel Ehrlich says that can’t last forever, and the economy has slowed following a rapid expansion.
The report says the General Motors strike cost the state 31,000 jobs in the short term, but those should be back soon. In fact, says U of M economist Gabriel Ehrlich, the state faces a small labor shortage.
So a lot of the reason for the slowdown in job growth that we’re forecasting is just because there aren’t enough workers to be hired.”
But Ehrlich says the unpredictability of President Donald Trump is a wild card that could quickly change the direction of the economy.
