Economists with the University of Michigan’s
Research Seminar in Quantitative Economics (RSQE) are forecasting modest and
steady economic growth for the State in 2013 and 2014. With it should come
improved state finances, job growth, lower unemployment numbers and a larger
automotive market.
Even with such a positive outlook, it may not
be enough to restore Michigan to pre-Great Recession numbers. RSQE estimates
the state’s jobless at 858,000 in the 21st Century, and calls for
276,000 to return in 2013 and 2014.
Specific to the automobile industry, the
report estimates 14.3 million cars and trucks will be sold by the end of 2012,
15 million in 2013 and 15.6 million in 2014. While this represents a
significant increase over the 10 million sold in 2009 (50% increase at that),
it still falls 1 million short of the 1990’s numbers.