Michigan’s Economic Recovery No. 2 in US
Economy watchers are oohing and aahing over Michigan’s recovery, saying the Great Lakes State is coming out of the recession at the second-fastest rate in the US. The one state outpacing Michigan is North Dakota, where the economy is being fueled by an oil boom.
More details after the jump.
Bloomberg News reports that the growth index measures state economic growth from 2008, when Michigan was mired in foreclosures and automotive bankruptcies.
The unemployment rate in Michigan isn’t as positive. The state's jobless rate is still around 11 percent, according to Bloomberg. We’re also listed as the third-worst state for new foreclosures.
Have you experienced an economic recovery or are you still waiting for it to knock on your door? Tell us about it below.