Dow has been rising but job growth in MI hasn’t
Here is something that I think a lot of Michiganders are pondering: the Dow Jones Industrial Average has been rising but where are all the jobs? All I am hearing is how the numbers of job creation have been fudged to make it seem that the stimulus bill in February has created jobs. In an article from the Detroit News, U of M economists are predicting that job growth in Michigan won’t happen until 2011! The growth that they are predicting is only going to be minimal. In this article, George Fulton, the director of University of Michigan’s Research Seminar in Quantitative Economics , states “”By the end of 2011, auto manufacturing in Michigan is forecast to employ just over a quarter of the workers it had on its rolls in mid-2000.”
With increased job cuts, how is the Dow rising? Could it be the ties that Timothy Geithner has on Wall Street? Whatever the case is, I hope these predictions are off and that Michigan sees job growth earlier than predicted.