economy

Turning gray and into the red: The true cost of growing old in America

BY: - January 4, 2020

The U.S. population is aging at such a rate that within a few years, older Americans will outnumber the country’s children for the first time, according to census projections. But rising rents, health care and other living costs mean that for many entering their retirement years, balancing the household budget can be a struggle. To […]

From the UAW strike to Trump’s trade war: The Advance’s best economy and labor stories

BY: - December 26, 2019

Quotable of the Year: “You know, there are things that we can’t control, like the weather, but there are things we can. And when we see trade changes via tweet, it’s really concerning.”  — Gov. Gretchen Whitmer on President Donald Trump’s chaotic trade policy In the last days of 2019, the Advance is running a […]

COMMENTARY

Rick Haglund: Don’t count on Trump losing Michigan in 2020 over the economy

BY: - December 22, 2019

President Donald Trump, who was impeached for abuse of power and obstruction of Congress, is a bully and world-class vulgarian. Who else would come to Michigan, a state critical to his reelection, and suggest, as Trump did on the same day of his impeachment, that its late, revered native son U.S. Rep. John Dingell (D-Dearborn) […]

Impact of UAW strike being felt far and wide

BY: - October 9, 2019

The lingering United Auto Workers (UAW) strike at General Motors, now in its fourth week, is starting to have far-reaching impacts — and there’s no clear end in sight.  While almost 50,000 unionized GM workers stand on the picket lines earning just $250 per week in strike pay, the economic ripple effects appear to be […]

COMMENTARY

Rick Haglund: People aren’t moving from Michigan — but that’s not the good news you might think

BY: - October 5, 2019

Michigan’s auto industry was built, in part, on the backs of hundreds of thousands of poor workers from the South who moved here in search of good jobs and better lives. Detroit’s population swelled by some 400,000 residents between 1930 and the early 1950s, as people from the South and other countries moved to the […]

AFL-CIO Secretary-Treasurer Shuler on UAW strike: ‘We’re ready to fight’

BY: - September 23, 2019

A couple hours after presidential hopeful U.S. Sen. Elizabeth Warren (D-Mass.) greeted United Auto Workers (UAW) members outside General Motors’ Detroit-Hamtramck assembly plant on Sunday, workers got a visit from the secretary-treasurer of the AFL-CIO. “I told them, ‘I’m the other Liz,’” Liz Shuler told the Advance with a laugh during a phone interview Sunday […]

Farm bankruptcies rising in Michigan

BY: - September 10, 2019

Delinquency rates for commercial agricultural loans are at a six-year high, a report from the Federal Deposit Insurance Corp. shows.  Following several years of low farm income and increasing debt, the American Farm Bureau Foundation found that both the real estate and non-real estate lending sectors are at a six-year high.  The report says 2.5% […]

COMMENTARY

Rick Haglund: Warning light is flashing for Michigan’s auto industry

BY: - September 1, 2019

It’s been a great decade for Michigan’s critically important auto industry, which almost died 10 years ago during the Great Recession. Annual U.S. sales for all automakers jumped from 10.4 million in 2009 — the lowest since 1982 — to an almost-record 17.2 million last year, a 65% increase.  Automakers and their parts suppliers in […]

COMMENTARY

Susan J. Demas: Trump’s crazy 2 weeks underscore just how much we’ll lose if he wins in 2020

BY: - August 29, 2019

President Donald Trump is diverting disaster funds during hurricane season to his precious border wall. Migrant children are being raped, falling ill and dying in border concentration camps. His administration is planning to stop regulating the greenhouse gas methane as the Amazon is literally on fire. Trump has managed to unleash even more mad-king rantings […]

In Detroit, Pence touts Trump admin. economic gains as recession fears rise

BY: - August 19, 2019

Updated, 6:23 p.m. 8/19/19 with comments from Rep. Levin Vice President Mike Pence on Monday urged a group of Southeast Michigan business leaders to “reject the siren song of socialism” and reelect his boss, President Donald Trump, to a second term.  In a 25-minute speech to the Detroit Economic Club — his third appearance before […]