Economists say Mich. will keep losing jobs in 2010
ANN ARBOR, MI –
University of Michigan economists say the state's economy will improve in 2010, but only in comparison to what has been one of the most "brutal" in a generation.
Economist George Fulton said Friday that next year will be "difficult," with job losses continuing and the unemployment rate, 15.1% in October, rising to an average of 15.8% next year.
But he says 2011 will see modest job gains, although unemployment will drop only to an average of 15.4%. He expects job losses to bottom out in summer 2011.
Fulton says the state is on course to lose 283,000 jobs this year, the biggest loss in 70 years. He expects the state will have lost 937,000 jobs between mid-2000 and mid-2011.