Insider Intelligence

While talking with friends recently, I realized how much time we spend discussing topics related only to our work.  My friend in finance talks about the markets, my friend in advertising talks about marketing and social media trends, and of course I talk politics.  While our conversations can be highly insightful (especially to those who […]

On Monday, Lt. Governor Garlin Gilchrist launched the Going PRO campaign to promote the importance of professional trade careers with the aim of addressing the state’s high-skilled labor shortage. It’s estimated that through 2026 Michigan employers will need to fill 545,000 skilled-labor jobs. Michigan businesses have been vocal over the past few years about the […]

While crafting the upcoming fiscal year budget, the House and Senate will have a slightly increased amount of money to appropriate, according to updated economic estimates. This news comes as a result of the biannual Consensus Revenue Estimating Conference that was held today in Lansing. Today’s conference is a follow-up to January’s conference, where updated […]

For the first time since October 2018, the seasonally adjusted unemployment rate in Michigan last month increased by one-tenth of a percentage point to 4.1%. Despite this increase, the rate was two-tenths of a percentage point below the April 2018 rate of 4.3%. Last month, total employment grew by 7,000, while unemployment increased by 4,000, […]

Given the increasing use of cryptocurrency worldwide, the House of Representatives approved legislation updating criminal definitions in instances where money changes hands to include cryptocurrency. The bipartisan package specifically targets areas such as embezzlement and racketeering. The bill package has been referred to the Senate Judiciary and Public Safety Committee for consideration. Cryptocurrency first started […]

Next Friday, Michigan’s minimum wage will increase from $9.25 to $9.45 per hour under the Workforce Opportunity Wage Act passed in 2018. The minimum wage will also increase for tipped workers from $3.52 to $3.59 per hour. Workers between the ages of 16 to 17 years old will have a minimum wage of 85% of […]

Small businesses that hire an employee who has been out of work for 60 days or more would be eligible for a tax credit under legislation introduced this week. Bill sponsor, Representative Kevin Coleman (D-Westland) believe the tax credit would help tackle unemployment by incentivizing businesses to seek workers who have been unsuccessful in long-term […]

Today, the biannual Consensus Revenue Estimating Conference was held in Lansing. The conference included House and Senate members, the directors of the House Fiscal Agency and the Senate Fiscal Agency, State Treasurer Rachael Eubanks, and State Budget Director Chris Kolb.  After hearing testimony from the Research Seminar on Quantitative Economics at the University of Michigan, […]