Great news was reported across the board at Oakland County’s 33rd Economic Outlook Luncheon on Thursday, April 26th. The luncheon, held at the Troy Marriott, was hosted by Chase Bank, Oakland Community College, and Oakland County Economic Development and Community Affairs. It featured keynote addresses from two University of Michigan Economists: Dr. Gabriel Ehrlich and Donald Grimes.
Before the luncheon, Oakland County Executive L. Brooks Patterson, Grimes, and Dr. Ehrlich spoke to the press and shared highlights from the report. According to the report, Oakland County has posted 119,100 job additions from 2010 – 2017. The county’s average growth pace of 2.6% per year outpaced both the nation’s and the state’s average rate of 1.8% over the same period. The continued recovery in Oakland County is consistent with the sustained expansion of the U.S. and Michigan economies. View a digital copy of the 2018 – 2020 Oakland County Economic Outlook Summary online. Continue reading
University of Michigan Economists, Donald Grimes and Dr. Gabriel Ehrlich, address the media in a press conference with Oakland County Executive, L. Brooks Patterson.
Good news dominated both reports and forecasts at last Thursday’s 32nd Economic Outlook Luncheon.
The Luncheon, held at the Marriott Hotel in Troy, featured keynote addresses from two University of Michigan Economists: Dr. Gabriel Ehrlich and Dr. Donald Grimes. Ehrlich and Grimes co-authored this year’s Economic Outlook Summary, which compiled highly-detailed data on job growth, population trends, and economic forecasts as far ahead as 2019.
According to the report, Oakland County has added an average of 15,771 jobs per year since 2009. In 2016, in-county employers added 16,475 new jobs, an overall increase of 2.3%. 2016’s growth rate surpassed the numbers for both 2014 and 2015, which saw increases of 1.9% and 2.1%, respectively. Continue reading
Last Thursday, Oakland County’s 2015-2017 economic forecast was reported at the 30th Annual Economic Outlook Luncheon at the Troy Marriott. Over 620 people attended the sold out event to hear University of Michigan economists, Dr. George Fulton and Donald Grimes, share Oakland County’s three-year economic forecast. Dan Hunter, Deputy Director of Oakland County Economic Development & Community Affairs explained, “The economic luncheon is really helpful for policy makers, companies and investors to help see where the economy is going.”
Prior to the luncheon, Oakland County Executive L. Brooks Patterson held a press conference with Fulton and Grimes, who have prepared the county’s economic forecast for the last thirty years. During the press conference, Fulton and Grimes shared the fantastic news that wages in Oakland County are up, unemployment is falling and jobs are being created. Patterson was ecstatic about the report and said,
“The numbers in the outlook are spectacular. We’re getting to places we only dreamed about. When you get below 5% unemployment, you’ve reached full employment. That day is not that far off. According to this report and according to our growth studies, we’re going to hit that number squarely this year and probably drop below 5 to 4.9% or 4.8%. It’s just incredible growth in the right sectors.”
For video of the press conference, click here.