Study finds Detroit’s workforce population outpaces the rest of Michigan
Detroit’s economy and population are likely to grow over the next five years.
But city residents will also face significant disparities in wages.
That’s the finding from a recent forecast of the Motor City’s financial future compiled by researchers at the University of Michigan.
Highly-regarded expert Dan Manaenkov helped examine Detroit’s economic picture.
He says Michigan’s largest city already has one distinct advantage over the rest of the state: a younger workforce. The wider state is losing workers to retirement.
“Michigan has been losing labor force to the tune of 3% year over year,” says Manaenkov.
In the long term, Manaenkov is less optimistic about Detroit’s economy. “Detroit is not an isolated economy… in the longer run, it is a lot more sensitive to how the over all Michigan is doing.” He also says that Detroiter’s on average make less money, leading to continuing wage disparity.
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