Tagged: economy

Michigan’s home foreclosure rate continues to fall dramatically.

Realty Trac reports today foreclosure filings in Michigan fell another 6% last month and are down more than 40% compared to a year ago.

“We’re getting close to now 2 years of a long-term downward trend in Michigan foreclosure activity,” says Daren Bloomquist, who is a Realty Trac vice president.

Michigan’s unemployment rate ticked up last month.

Michigan’s unemployment rate rose two tenths of one percent in May to 8.5%.

I heard some interesting ideas about our economic future on Mackinac Island last week at the Detroit Regional Chamber of Commerce's annual conference of the state's movers and shakers. 

Toyota reported a sales increase in May of 87% compared to the same month a year ago - when the company's vehicle production had plummeted due to the tsunami hitting Japan in March.  

There were more selling days this month than last May, but it is still a robust recovery from the disaster, which reduced inventories on Toyota dealer lots and sent some customers to other car companies.

Toyota remains number three in overall sales in the U.S., however, just behind Ford, which saw its sales increase 13% in May.

Each Wednesday I check in with Michigan Radio's Political Analyst, Jack Lessenberry, for a round up of state politics.

This week Jack is on Mackinac Island (he's promising not to eat any fudge) for the annual Mackinac Policy Conference.

The 3-day conference is billed as a time for state business and political leaders to talk about and shape the state's future.

Lessenberry said they are talking this year about the comeback Michigan has been on. He says Governor Synder talked about how Michigan has the right to be proud of that fact.

"In some years people at the conference have been almost in the fetal position talking about some of the problems we've had," said Lessenberry. "This is an acknowledgment that people want to be more upbeat about the future."

The Nature Conservancy has released an analysis saying that invasive species such as zebra mussels and sea lamprey cost businesses and consumers hundreds of millions of dollars each year, besides damaging the environment in the Great Lakes region.

Power companies spend $130 million annually removing mussels from electric plants.

The report out yesterday said tourism and other industries lose $50 million a year in reduced demand because of invasive species.

The study conducted by Anderson Economic Group of East Lansing says the situation will get worse if Asian carp reach the Great Lakes.