Economic Development

LANSING, Mich.—As we wrap up Robotics Week in Michigan, state officials encourage students, educators and parents to join them in highlighting the importance of robotics education, which encourages problem-solving, creative thinking and a healthy sense of competition that drives innovation from students and prepares them for high-demand, high-wage careers.

Despite Improving Labor Market

• Initial claims for unemployment insurance rose somewhat in the week ending April 3; there was also a small increase in the four-week moving average. Layoffs remain extremely high.
• The total number of people receiving some form of unemployment benefit remained extremely elevated, at above 18 million, in the week ending March 20
• The labor market recovery is picking up in the spring thanks to stimulus and vaccines.

Residents warned of new wave of criminal attempts to file imposter claims in pursuit of benefits

LANSING, MICH. — Michigan’s Unemployment Insurance Agency (UIA), like other states across the country, remains under attack by criminals. Since Friday, April 2, Michigan has seen a dramatic increase in new Pandemic Unemployment Assistance (PUA) claims likely filed by criminals that have been halted for identity verification. No payments have been sent to the approximately 100,000 flagged claims.

• Projects building on Governor Whitmer’s Back to Work Michigan plan expected to generate total private investment of $11.3 million, create 192 jobs in Michigan
• Leading Michigan-based HVAC provider Goyette Manufacturing expanding headquarters in Flint, creating 90 jobs
• Nutritional supplement manufacturer Uckele expanding in Adrian, adding 102 jobs

April, 2021 - Bloomfield Hills, MI – The Construction Association of Michigan Presents Its 135^th Annual Meeting Virtually for 2021

Even With Stronger Outlook

• The minutes from the March 16-17 FOMC meeting noted an improvement in the economic outlook.
• Although the outlook was improved, participants noted that economic activity was still well below potential and that inflation remained below the 2% objective.
• The FOMC reaffirmed its commitment to highly expansionary monetary policy until there was significant, broad-based improvement in the labor market and inflation was at the 2% objective.
• Participants emphasized the need for actual progress in the economy, and not just forecasts for progress.
• PNC expects the FOMC to reduce its asset purchases starting early next year. PNC does not expect the FOMC to increase the fed funds rate until late 2023.

$7,500 goal to win matching grant through MEDC’s Public Spaces Community Places initiative