New U-Michigan State Economic Forecast Calls for Better 2027

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Economists at the University of Michigan believe that the state’s labor economy is currently in a “soft patch”, but that brighter days are ahead. They expect the state's employers to shed 5,900 jobs in calendar 2026, but then add 13,400 in 2027 and 9,300 in 2028. The forecast assumes no further escalation of the conflict in Iran and gradual reductions in the price of oil. According to the press release, the forecast will be presented to Michigan’s Consensus Revenue Estimating Conference on May 15.

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