2017 Is A Good Year For Michigan Automakers

Car Accident Lawyer

There’s some good news for Michigan’s economy and automakers coming in 2017. George Fulton, Director of research Seminar in Quantitative Economics, and research professor and Director of the Center for Labor Market Research at the University of Michigan’s Institute for Research on Labor, Employment, and Economy, recently forecasted Michigan’s economic and fiscal activity for 2017. He says that major Detroit car manufacturers such as GM, Chrysler, and Ford’s national sales will go up from last years 44.3% to 44.9% in 2017.

This is good news for Michigan’s economy as these three car companies are some of the biggest companies in Detroit, Michigan and in the country. The growth of their sales nationally will help the state of Michigan recover from its economic slump quicker. With this growth may come upwards of 568,900 jobs just for citizens of Michigan. This is almost 66% of the 858,400 jobs that Michiganders lost in the 2000 recession. Put in other terms, this means that the unemployment rate in Michigan will drop from its current 5.3% to 4.6% in 2017.

Michigan State Treasurer, Nick Khouri, indicates that Michigan’s economy is already improving by reporting that Michigan’s revenue for the 2015 fiscal year has improved by almost $227 million since January. Michigan Governor Rick Snyder’s administration estimates that together, the general fund and the School Aid Fund revenue will be up by $175 million in 2017. The Senate Fiscal Agency however forecasts that the combined revenues will be up by $189.4 million. Regardless of who’s estimate turns out to be correct, the positive numbers look good for Michigan.

Residents of Michigan should keep in mind however that an improving economy which leads to an increase in car purchases means an increase in car accidents. The Michigan Law Firm, PLLC can help victims of car accidents get their medical bills paid, deal with car insurance issues, and get them compensation for pain and suffering as allowed under Michigan law. Allowing our accident attorneys  to help you identify and recover your medical and insurance benefits may be the best decision you make on your road to healing. Speak to our experienced attorneys today. Call us at 844.4MI.FIRM for a free consultation.

Source: Detroit Free Press