Jul 31 2018
The Great Lakes State GDP has recovered after the Great Recession and reached new highs
IBISWorld, a global leader in industry market research, has added Michigan industry reports to its growing US state collection. The reports will cover several industries within 11 major sectors of its economy, including manufacturing and wholesale trade.
“While Michigan is leading the nation in terms of declines in unemployment, the state is lagging behind the nation in terms of new jobs added,” says IBISWorld analyst John Madigan. “The Michigan workforce is becoming more balanced though as growth in the private sector is spurred on by employees migrating to predominantly high-wage sectors such as the health care and social assistance sector.”
Michigan, which has a population of nearly 10 million people, is estimated to be the twelfth-largest state economy in the US. Incomes in Michigan have been rising faster than the national average. Find out why and what’s trending by digging in to IBISWorld’s local data.
Your clients can uncover state industry trends and how they compare against national developments, measure industry performance and understand how local market conditions affect profitability.
Want more insights on what’s in the forecast and what types of companies have their eye on setting up shop in Michigan?