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    Michigan unemployment surpasses national numbers for second month

    By Adriana Doria,

    13 hours ago

    https://img.particlenews.com/image.php?url=15uH12_0v4lRtKK00

    GRAND RAPIDS, Mich. (WOOD) — As unemployment continues to rise across the country, Michigan is seeing the effects.

    Recent data shows that for the second month in a row, the state’s unemployment rate has surpassed the nation’s average.

    According to the Michigan Department of Technology, Management and Budget , the state’s unemployment rate rose by 7.8% in the month of July, while the national average advanced by 5.2%.

    Professor Paul Isely, an economist at Grand Valley State University, told News 8 these numbers are not trending favorably in the next few months.

    “People are actually worse off this June than they were last June in Michigan. And that is problematic,” he said. “If you look at the hourly wage of workers in West Michigan, it has gone up. But the weekly wage, the amount of money they take home, has gone down.”

    Report: 41% in Michigan are in poverty or are struggling financially

    Isely added that one of the hardest hit areas is manufacturing.

    “What we are seeing right now is that manufacturing has dropped so much that it’s overpowering the sectors of the economy that are rising,” he said. “It’s hit hard here because of our reliance on automotive which is seeing a slowdown. What’s driving these numbers is people are slowing down their purchases of cars because they cannot afford them, the price is too high, and the interest rates are too high.”

    On Monday, General Motors laid off 1,000 workers, 600 of those being from their Metro Detroit plant. The company said this is in an effort to streamline the units operations

    As the nation inches closer to Election Day, the economy remains top of mind. Isely said that the state of Michigan’s economy will likely play a role in voter decisions in November, especially being a battleground state.

    “People vote with their pocketbook, if they feel good then they try to bring back the incumbents and if they feel bad then they want to throw out the incumbents and try to bring in somebody new. So, what this does is that this slowdown doesn’t play well for the incumbent parties,” he said.

    Copyright 2024 Nexstar Media Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

    For the latest news, weather, sports, and streaming video, head to WOODTV.com.

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