The Michigan Economy: The 2020 Outlook

The Michigan Economy: The 2020 Outlook
January 8, 2020 paperlesslion
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Two esteemed authorities gaze into our financial future to predict how the state will fare in the year ahead in a special discussion that took place before the Detroit Economic Club.

Watch the Detroit Economic Club’s stream of The Michigan Economy: The 2020 Outlook – On Demand – Right Now. Click:  dptv.org/dec

What level of economic growth can Michigan expect in 2020, and how is our state performing in today’s battle for talent and business attraction? Certainly, trade wars, interest rates and an election year will each play a role in our state’s economy.

Diane Swonk, chief economist at Grant Thornton, and Jeff Donofrio, director of Michigan’s Labor and Economic Opportunity Department, shared insights on these topics and others at the 2020 Michigan Economic Outlook Meeting yesterday.

Detroit Public TV, in partnership with the Detroit Economic Club, provided livestream coverage of the conversation.

Diane Swonk is one of the most respected macroeconomists, who maintains a unique perspective on the inner workings of Main Street as well as Wall Street. She is an expert on the economics of the labor market, monetary policy and structural changes that are distinct from economic cycles.

Her global network includes economists, industry leaders and geopolitical experts, which amplifies the breadth and reach of her analysis. She advises policymakers at all levels of government, including central bankers. Swonk’s uniquely accessible approach to macroeconomic shifts has made her a highly sought-after expert quoted by local, national and international newspapers and broadcasters.

Jeff Donofrio is charged with coordinating and streamlining the state’s workforce and economic development programs to meet business and labor needs and grow communities where all Michiganders have equal opportunities to reach their fullest potential. Donofrio brings a wealth of experience and proven success in policy, government and workforce development.

Previously he served as the executive director of Workforce Development for the City of Detroit where he oversaw the city’s workforce system and was charged with development and implementation of strategies to increase residential employment and household income and improve the economic competitiveness of Michigan’s largest community. Before joining Mayor Duggan’s staff, he served as an executive at Ford Motor Company, based in Washington, D.C.

Daniel Hows of the Detroit News moderated the discussion for the Detroit Economic Club

In addition, results of the eighth annual Michigan Economic Outlook Survey were unveiled at the meeting. This highly collaborative effort involves input from more than one thousand businesspeople and many associations throughout the state.