Detroit job growth predicted to outpace state's employment creation
The city of Detroit should see a half percent to one percent increase in job growth in the next five years, according to a University of Michigan forecast.
That may not seem like much, but it's a faster pace than the forecast for the state's job growth.
Gabriel Ehrlich is an economic forecaster at the University of Michigan. He says big corporations – Quicken Loans, Bedrock – as well as big projects – namely, the Gordie Howe Bridge, will drive much of Detroit’s job growth. That bridge project will create many construction jobs.
Ehrlich says unemployment in Detroit has plummeted from more than 18% in 2013 to a little over 8.5% percent last year.
"It really is striking how much unemployment has come down in the city of Detroit."
It still has about double the unemployment rate as the state.
Ehrlich says he also expects more smaller companies to start moving in and producing additional jobs – eventually.
"We do think that, you know, the old saying, a rising tide lifts all boats. We believe that's true, in the long term."