We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Nobody downloaded yet

State of Economy (Michigan) - Essay Example

Comments (0)
Title Name University Course Instructor Date Introduction The paper will analyze the current state of Michigan economy and give reasons for current state of the economy. Experts agree that the economy of Michigan has been low for years, but the state has witnessed a great recovery mainly after the Great Economic Recession…
Download full paper
State of Economy (Michigan)
Read TextPreview

Extract of sample
State of Economy (Michigan)

Download file to see previous pages... Based on this evidence, economists remain certain that Michigan economic status will continue to climb out of its deep economic hole. The economy has enjoyed an increasingly substantial economic recovery from the Great Recession for instance the GDP of the state has increased up to 385 dollar in 2011 compared 352 dollars of the last two years and this can be attributed to some key indicators. The per capita income of the nation has increased by 0.7% in the 3rd quarter of 2012 on a yearly basis, even thought this rise was lower compared to the 2rd quarter. Based on this evidence, the GDP of the nation is calculated to be increasing at a 0.8 percent compared to the previous years. The figure below shows Michigan economic growth after the Great Recession This extensive economic growth – as shown in the figure is assumed to be from manufacturing sector. For instance, manufacturing has a great contribution to the positive economic growth index especially the automobile industry. The other main contribution is from the construction sector that has made an enormous growth index change since 2005. Other crucial indicators of Michigan’s economic growth include reduction in the unemployment rate from 9.2 percent to 8.7 percent between October and November. For instance, between 2011 and 2012, the nation has had substantial growth in private sector employment. This qualified Michigan to be among the top six rapidly growing world economies. The levels of employment in the nation have currently shown some improvement signs since the end of the Great Recession in 2009 (Barenblat, 25). For example, the nation’s household employment has risen to about 2.7% matching the national gain of the state. In addition, the greatest employment increased is evidence in some sectors such as education, health services, hospitality sector, leisure, logging in addition, mining sectors, with health sector adding up 1.7 million employment opportunities accounting for 50% of the job opportunities created since recession in 2008. Similarly, the housing market has also show some minimal improvements that may viewed as economic improvement indicators and the United States sales of light vehicles has been very strong in December, assisting in boosting the production of Michigan light motor vehicles in 2012. For instance, statistics shows that housing markets are stabilizing with rise in sales and prices. Although, new homes constructions remain minimal, they are expected to rise and meet the gap demand. The business climate of the nation and the economy have enhanced during the past few years although the change has not been stronger to push the nation in the top ten economically strong nations. Following the reduction of business taxation and shift of corporate tax, the business condition of the Michigan has shifted to be among the top seven best economies of the world. Economists report that the GDP per capita and employment rates of Michigan has increased substantially compared to their peer nations since 2008-9. A firm competitive business climate in Michigan in conjunction with innovative customer service based administration has great impacts on the country’s economic growth. The nation has reinvented the stated government in crucial ways to function for the best for its entire people. Their policies has shifted a 1.5 billion dollars deficit in the budget without the use of on-time accounting tricks and ...Download file to see next pagesRead More
Comments (0)
Click to create a comment or rate a document
State of the economy
The three brands our company hosts, Shades of Youth, Super Clean and Super White are profitable within the local market however, run the risk of a gradual loss of market share to global conglomerates ability to increase advertising and reduce costs. The goal of the following essay is to show why expansion is necessary based primarily in the global and national economic state.
3 Pages(750 words)Essay
Economy through US History
In short, market economy is characterized by minimal participation of the government in the economy. There are minimal interventions by the government; planning is mostly done by the citizens and the business owners. Market economies contrast the centrally governed businesses that rely on the government to determine the running of businesses.
5 Pages(1250 words)Essay
Political Economy of Media
The era we are in now is marked by globalization technological revolution and democratization, all these areas in one way or another impact media and communication. McChesney observes that the technological revolution does play a defining role in the media industry.
9 Pages(2250 words)Essay
The automotive industry in For almost the past hundred years the automotive industry has dominated Michigan's economy. How and
However, the place was not only home to auto manufacturers, it was also home to dealers and suppliers of auto parts. There are many reasons behind this. For instance, even before motor vehicle were invested or brought to America, Detroit was an industrial city boasting of a diverse, extensively regional manufacturing hub.
5 Pages(1250 words)Essay
Michigan state university
Choosing a suitable college together with the right choice of major has been my preoccupation for the past months. This has been tough for me knowing that this single decision will determine my future and career. I believe that an individual should pursue his passion because it is his fuel which will enable him to reach his full potential.
2 Pages(500 words)Personal Statement
State of the current economy (Economics)
just 0.9%, down from the 10-year average of 2.8% (St Labs, p1).” According to the United States Department of Labor, The Unemployment rate as of September 2009 was 9.8%, which is the result of a progressive growth 8.9% in April 2009. University of Maryland economist Peter
3 Pages(750 words)Essay
The history of manufacturing in the State of Michigan
During the nineteenth century, the growth of Michigan was based on mining and lumbering industries because this industry depended on natural resources
5 Pages(1250 words)Essay
Current state of the US economy
is the undisputed leader in technological advancements including medicine, computers, automobiles, aerospace and arsenal. The country is the strongest voice in international organizations like the UN and NATO. The world is always keen on listening to US’s stance and
2 Pages(500 words)Essay
State of the economy
As compared to the real GDP back in 2008, the U.S. real GDP has shifted from -9% during the last quarter of 2008 up to a positive figure since the
3 Pages(750 words)Essay
Develop a Summary on the State of the US Economy
Gross domestic product, GDP fell significantly in the first quarter of the year 2014. The records showed that the fall was the fastest rate ever recorded in the U.S. since the end of World War II. Rise in prices of housing markets to an average of 7% per
2 Pages(500 words)Essay
Let us find you another Essay on topic State of Economy (Michigan) for FREE!
Contact us:
Contact Us Now
FREE Mobile Apps:
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us