East Lansing, MI – A senior economist for a leading national financial services company says 2010 will be a transitional year for mid-Michigan's economy. He's optimistic that more hiring is on the way.
Robert Dye is a vice president with PNC Financial Services Group. Speaking before the Lansing Economic Club, Dye said though the Lansing area is faring better than most Michigan cities, its unemployment rate is trending slightly higher than the national average. Dye says 2010 looks like another weak year for state tax revenues. But he adds business confidence is starting to improve.
"Now, we need to see conditions improve from caution to optimism," Dye says. "We're not there yet, but I do think that as time goes on we're going to see more healing and hiring through next year."
Dye says while the state economy is beginning to stabilize, he does not believe Michigan will lead the national recovery out of the recession.