We all know Michigan’s economy is rebounding — “Now Hiring” signs are popping up in window fronts across the state, unemployment numbers continue to drop and new businesses are bringing new jobs to our state almost daily.
But it’s still nice to get confirmation that our state is continuing its resurgence, which is why Comerica Bank’s recent Michigan Economic Activity Index is such good news.
The index jumped 4.3 points in May, hitting 124.0 and indicating that things are looking up for Michiganders. Since 2009, Michigan’s economic outlook has steadily been on an upward trend, and it’s currently a whopping 72 percent higher than that its lowest ranking of 71.9.
The index is based on seven variables that include sales tax revenues, hotel occupancy rates and continuing claims for unemployment insurance — all signs of a state’s economic activity.
“In addition to employment, exports, sales tax, hotel occupancy, unemployment insurance claims, residential building permits and vehicle assemblies all showed signs of improvement in May.”
— Robert Dye, Chief Economist at Comerica Bank
With Michigan’s economy floundering in 2009, our state’s residents knew something needed to change, and that’s when Republicans took majority in the House, Senate and the governor’s office.
By eliminating red tape and burdensome regulations, making it easier for local businesses to open and expand and remaining accountable to those who elected them, House Republicans have helped turn the tide in the Great Lake State by getting people back to work and making everyone’s future brighter.