Jonathan Oosting The Detroit News Published 10:55 AM EST Jan 11, 2019 Lansing — Michigan’s economy has “rarely been better than this, but there are more clouds on the horizon than there have been in a while,” a University of Michigan economist told state officials and lawmakers Friday during a bi-annual briefing. The state’s prolonged economic recovery is expected to slow in 2018 because of looming jobs cuts at General Motors, modest declines in Big Three vehicle sales, a tightening job market and President Donald Trump’s escalating tariff war with China and other countries. Michigan added 540,900 jobs in 2018, and UM economists are projecting smaller gains of 25,700 jobs in 2019, 34,4000 in 2020 and 32,100 in 2021. General Motors last year announced plans to lay off nearly 1,900 workers at its Detroit-Hamtramck Assembly and Warren Transmission plants, along with roughly 8,000 white-collar jobs in unspecified locations. Most of those white-collar cuts are also likely to occur in Michigan, said Gabe Ehrlich, director of U-M’s Research Seminar in Quantitative Economics, which projects the state could lose a total of 16,000 jobs at the automaker and in related firms. “But we really do think the fact the labor market is so strong… Read full this story
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