MICHIGAN (WNEM) – A latest report forecasting Michigan’s financial future mentioned it’s attainable the state could be shielded from the brunt of a possible recession, sarcastically, due to the pc chip scarcity.
Non-automotive and constructive industries are going through a tricky surroundings because of rising rates of interest, and the forecast carried out by the College of Michigan hopes it’s the auto trade that protects Michigan’s economic system within the occasion of a recession.
Christopher Douglas, economics professor on the College of Michigan-Flint, mentioned the scarcity of chips has curtailed auto manufacturing, and that has led to an ongoing robust demand for brand spanking new vehicles.
“Individuals who may need wished to purchase a brand new automotive during the last two years maybe weren’t in a position to, so provided that pent-up demand for cars, even when the nationwide economic system slows down, maybe auto gross sales gained’t fall by means of the ground like they did in earlier slowdowns,” Douglas mentioned.
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The report mentioned whereas a “recession is extra possible than to not arrive over the subsequent 18 months,” Michigan’s expertise could possibly be totally different this time.
The forecast additionally projected inflation would come down from greater than 8 p.c now to 2.5 p.c by 2024.
“This can be a best-case state of affairs for the economic system as a result of they’re forecasting inflation coming down over the subsequent two years to again the place it was earlier than COVID, which was round 2 p.c,” Douglas mentioned.
UM’s findings additionally made a willpower concerning the labor drive.
“The restoration within the state’s labor drive participation price lags nicely behind the nation’s, posing an necessary problem to Michigan’s labor market,” the forecast reads.
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In the meantime, the predictions for job development are anticipated to proceed reasonably.
The UM report additionally predicted the state unemployment price will stay at 4.1 p.c till mid-2023 and attain a cyclical peak of 4.7 p.c by 2024.
It’s clear that Michigan is placing a large emphasis on recruiting the South in the first full cycle of the Sherrone Moore era. Of the Wolverines’ 13 verbal commitments in the class of 2025, eight have come from players located south of the Mason-Dixon Line.
One of those pledges came from three-star Stockbridge (Ga.) linebacker Chase Taylor, who committed to Michigan on June 24 among a final grouping which included South Carolina, Georgia Tech and USC.
Taylor has been a productive player each of the last two years in high school. Per MaxPreps, Taylor totaled 66 tackles with three sacks during his sophomore season in 2022. That was followed up by a junior season in which Taylor tallied 73 tackles, with six tackles for loss, six sacks and three forced fumbles. His junior season highlight reels can be watched here.
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While listed as a three-star recruit, Taylor’s offer sheet suggests he’s underrated as a prospect. The 6-foot-3, 201-pounder has drawn 27 scholarship offers from FBS-level programs, with the likes of Tennessee, Florida State, Clemson and LSU showing interest in addition to his final grouping. Taylor is considered the No. 588 overall prospect, No. 63 linebacker and No. 65 player from the state of Georgia in the 2025 recruiting class, according to 247Sports’ Composite rankings.
Michigan linebackers coach Brian Jean-Mary and defensive coordinator Wink Martindale did an excellent job in the battle for Taylor’s commitment, which was wrapped up when the Peach State native took an official visit to Ann Arbor back on June 21. That was the fourth official visit for Taylor, who also took trips to USC (May 31), South Carolina (June 7) and Georgia Tech (June 14) this summer.
The Wolverines’ missed on four-star Trenton (N.J.) Hun linebacker target Kamar Archie earlier this week, but remain in a fierce battle with Notre Dame and others for Bradenton (Fla.) IMG Academy’s Nathaniel Owusu-Boateng (No. 70 overall) at the position.
In addition to Archie, the Wolverines have seen four other high-profile prospects commit to other programs in four-star Philadelphia (Pa.) St. Joseph defensive lineman Maxwell Roy (Ohio State), four-star Brooklin (Mass.) Dexter interior offensive lineman Hardy Watts (Wisconsin), four-star Danville (Calif.) San Ramon Valley edge rusher Marco Jones (Texas A&M) and four-star Las Vegas (Nev.) Bishop Gorman interior offensive lineman Seuseu Alofaituli.
Good news could be on the way next week for Michigan however, as the Wolverines are the current favorites to land four-star Center Valley (Pa.) Southern Lehigh tight end Andrew Olesh (No. 121) and three-star Destrehan (La.) wide receiver Phillip Wright (No. 533). Olesh — who is also considering Alabama and Penn State — is set to announce his commitment on July 8, while Wright will make his announcement on July 13 between Michigan and Georgia Tech.
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Michigan’s 2025 recruiting class is currently ranked No. 22 in the country and No. 7 in the Big Ten, through the Wolverines average player ranking of 91.03 is the third-best mark in the conference.
– Enjoy more Michigan Wolverines coverage on Michigan Wolverines On SI –
More Michigan News:
Michigan Football Makes Top Group For 4-Star, Top 100 Prospect
Massive Michigan Football Target Set To Make Decision Next Week
Lou Esposito Is Bringing The Heat On The Recruiting Trail For Michigan Football
For additional coverage of University of Michigan athletics:
First responders are looking for two men who went off a boat on Lake Michigan near Hammond on Friday afternoon. Three people are believed to have gotten in the water, but one was rescued. The other two have not yet been found. Others who had been on the boat at the time made it back to shore safely.
The two men had been on a boat with ten other people, including adults and juveniles, about two and a half miles off Whiting on Lake Michigan at around 2:30 p.m. when one of the men jumped off the boat to swim. a third man in a life-jacket tried to help the first and he was later found by rescuers in a boat.
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One of the missing men is from Elk Grove Village, and the other is from Mount Prospect.
A suburban beach is back open as the search continues for a man who went under on Sunday.
EVANSTON, Ill. (WLS) — Crews pulled a body from Lake Michigan on Saturday, nearly one week after a swimmer went missing near Lighthouse Beach, the city of Evanston said.
A fishing charter found the body about 2 miles off Dempster Street Beach early Saturday, the city said.
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The fishing charter crew notified the Coast Guard, and the Evanston Fire Department was dispatched to investigate at about 6:40 a.m. EFD crews then removed the body from the water.
The Evanston Police Department and the Cook County Medical Examiner’s Office are working to identify the body, which potentially matches the description of the 41-year-old man who went missing in Lake Michigan on Sunday afternoon, the city said.
The video in the player above is from a previous report.
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