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GRDadof3

By GRDadof3
in Grand Rapids Coffee House

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ParkRowJoe Crossroads

ParkRowJoe

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"Need a job, stick around West Michigan" - says Manpower

This article is very "East vs. West". Interesting.

Hello, I am the workforce analyst who did the research for the Manpower article. I've been analysing Mich's economy for over 12 years.

Our state's east and west region's have often recoved from recessions at different rates. In the early 80's WestMich shot out of the recession while Southeast Mich lingered.

During the last three years Southeast Michigan lead the Michigan's slow recover. During the first two months of that period West Mich employement growth lagged. Of course now, it appears West Mich is now leading the state grow.

The mix of industries influence the timing of our state's regional recoveries from recessions. West Michigan has decent mix of industries. But their is a stagnate to slow decrease in high paying manufacturing jobs here.

Because of West Michigan's growth, long term that is, I invested in Park Row condo's near Mich Ave and Paris in the medical mile.

I really am putting my humble amount of money where my mouth is.

Joe.

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GRDadof3 Ecumenopolis

GRDadof3

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Here ya go 6th Gen. This report from the Brookings Institution says for Grand Rapids, employment gains in "advanced services" more than offset losses in manufacturing employment from 1995 - 2005 (19,200 gained/11,600 lost respectively):

http://www.brookings.edu/metro/mei/20060727_GrandRapids.pdf

..which led to this release (mainly about Indianapolis) stating that Grand Rapids was one of only 6 Metros in the Great Lakes with a net gain in advanced service jobs this past decade:

http://www.insideindianabusiness.com/newsitem.asp?ID=18949

The others were: Cincinnatti, Peoria IL, Evansville, Indianapolis, and Davenport IA.

We definitely need to ramp up the number of people with college degrees in GR, which is a disappointing 22 or 23%.

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6th Gen local Whistle-Stop

6th Gen local

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Here ya go 6th Gen. This report from the Brookings Institution says for Grand Rapids, employment gains in "advanced services" more than offset losses in manufacturing employment from 1995 - 2005 (19,200 gained/11,600 lost respectively):

We definitely need to ramp up the number of people with college degrees in GR, which is a disappointing 22 or 23%.

Thanks for the updates! I guess its what writer and data that you look at in the end. I think as we move away from a manufacturing based economy, the number of college graduates will go up.

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GRDadof3 Ecumenopolis

GRDadof3

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Thanks for the updates! I guess its what writer and data that you look at in the end. I think as we move away from a manufacturing based economy, the number of college graduates will go up.

BTW: Here's the Brookings Institution's rating of Ann Arbor:

http://www.brookings.edu/metro/mei/20060727_AnnArbor.pdf

Gains in advanced service jobs from 1995 - 2005: 4900 (they actually LOST 2700 advanced service jobs in the past 5 years); loss in manufacturing jobs 1995 - 2005: 9500 (too many to be offset by any gains in AS jobs).

I guess this guy missed some stats, or was just basing his assessment on his opinion.

And if anyone was interested in Detroit's assessment, it's here:

http://www.brookings.edu/metro/mei/20060727_Detroit.pdf

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superNOVA Whistle-Stop

superNOVA

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The problem is that these are the stats that he was really pointing at...

"Based on average annual income, the Detroit region ranked 14th nationwide with per capita income of $35,955 in 2004. West Michigan was No. 50 of 54 large U.S. cities, with an average of $29,546. It topped Orlando, Fla.; San Antonio, Texas; Greenville, S.C.; and Fresno, Calif."

Sorry, but per capita income is also tied to cost of living. GR happens to have a low cost of living - that does not equate into having a bad economy.

His argument is flawed and worthless.

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GRDadof3 Ecumenopolis

GRDadof3

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The problem is that these are the stats that he was really pointing at...

"Based on average annual income, the Detroit region ranked 14th nationwide with per capita income of $35,955 in 2004. West Michigan was No. 50 of 54 large U.S. cities, with an average of $29,546. It topped Orlando, Fla.; San Antonio, Texas; Greenville, S.C.; and Fresno, Calif."

Sorry, but per capita income is also tied to cost of living. GR happens to have a low cost of living - that does not equate into having a bad economy.

His argument is flawed and worthless.

I thought about that too about his findings. In addition to low cost of living, our housing here in West Michigan is considerably more affordable than the other markets in their study. Hence the median income is not only "not bad", but quite good in comparision to people's largest investment.

2nd Annual Demographia Housing Affordability Survey - New Thread

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GRDadof3 Ecumenopolis

GRDadof3

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A different take on the economic summit by George Erickek:

Grand Rapids expected to be economic "shining star" in 2007

Erickcek said a ranking of 118 metropolitan areas placed Grand Rapids fourth best when it came to dynamic places to do business.

On the downside, the city placed 80th in terms of challenges involving the area's skilled workforce. Forecasters say the area could face a shortage in the future of well-trained workers in the production and manufacturing sector.

Based on a modestly growing job market, I predict that the housing market will be back to "normal" levels by the end of 07 (barring any unforeseen banking crisis before then), when the 400,000 non-farm jobs threshold is consistently passed:

323233715_f3ac03af59_o.jpg

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GRDadof3 Ecumenopolis

GRDadof3

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Steelcase profits hit highest point in 6 years

Profits year to date are almost double this time last year. Does anyone know if Steelcase provides a healthy bonus program to its employees, as they used to years ago? Just wondering if some of these profits will get pumped back into the local economy.

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GRDadof3 Ecumenopolis

GRDadof3

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Delphi plant sparks interest as closing nears

This is the soon to close plant in Coopersville. That's great for the metro economy if it were purchased and reused right away.

Herman Miller posts its largest earnings per share ever

Like Grand Rapids rival Steelcase Inc., which also announced its best quarter in nearly six years this week, Herman Miller's success stems in part from strong growth in its international sales.

The company's sales in Asia rose 50 percent, Mexico was up 30 percent and Europe increased 50 percent, Herman Miller spokesman Bruce Buursma said.

Exporting (not outsourcing) goods and services to areas outside of our economy: good. :D

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GRDadof3 Ecumenopolis

GRDadof3

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West Michigan economic forecast may have some good news - Dr. Hari Singh, GVSU

...."About 70 percent of the losses in manufacturing have been, in terms of employment, regained by other expanding sectors," says Singh. The other good news is that it looks like the loss in manufacturing has bottomed out.

West Michigan appears to be faring better than the east side of the state. That economy is much more dependent on the fortunes of the Big 3 domestic automakers. The hope is the big three will come out of restructuring leaner and meaner - meaner in terms of competing with powerhouse, Toyota. Singh says the challenge is to improve market share by reducing legacy costs. That could take years....

West Michigan exporters predict 6 percent growth in 2007.

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WOT Whistle-Stop

WOT

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West Michigan economic forecast may have some good news - Dr. Hari Singh, GVSU

...."About 70 percent of the losses in manufacturing have been, in terms of employment, regained by other expanding sectors," says Singh. The other good news is that it looks like the loss in manufacturing has bottomed out.

West Michigan appears to be faring better than the east side of the state. That economy is much more dependent on the fortunes of the Big 3 domestic automakers. The hope is the big three will come out of restructuring leaner and meaner - meaner in terms of competing with powerhouse, Toyota. Singh says the challenge is to improve market share by reducing legacy costs. That could take years....

West Michigan exporters predict 6 percent growth in 2007.

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NorthEnder Hamlet

NorthEnder

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I guess WOODTV didn't emphasize the "MAY" enough, LOL. I thought the Upjohn Institute had a survey of employers out recently that showed a little more confidence in the West Michigan market. Interesting and confusing.

Oh yeah, back in December in this thread ^^^^

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BGIII Unincorporated Area

BGIII

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Also, I have a friend in lansing who just BASHES on grand rapids constantly, telling us how much better Lansing is than GR, but if you step back and take a look at the substantial projects we have going on, things will be fine in 2007 based on construction jobs alone, and when the professionals move into those buildings, it will be fantastic!
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