Michigan's economy expected to grow in 2016

Jan 2, 2016

A Michigan State University economist predicts Michigan’s economy will continue to grow in 2016.

Credit Steve Carmody / Michigan Radio

Economist Charles Ballard says he’s “cautiously optimistic” about next year.

Ballard says the growing economy could pull more people into the workforce.

“There is at least some room for further tightening of the labor market. It probably wouldn’t come in the form of a lower unemployment rate,” says Ballard, “But perhaps we can lure back in the labor market some of the people who have dropped out.”

Michigan closed out 2015 with an unemployment rate hovering around 5%.