Comments on: Lower income and fewer jobs with the same unemployment rate https://michiganfuture.org/2015/04/michigan-2001/ A Catalyst for Prosperity Thu, 02 Apr 2015 22:10:25 +0000 hourly 1 By: Lou Glazer https://michiganfuture.org/2015/04/michigan-2001/#comment-8116 Thu, 02 Apr 2015 22:10:25 +0000 https://www.michiganfuture.org/?p=6549#comment-8116 In reply to Don.

Good questions. The employment rate for those 25-64 year old (considered the prime working ages) for Michigan is also in the bottom 10 state. So yes some of the decline in the proportion of those working is Michigan is aging. And yes retirees by spending money in the local economy add to economic activity. But the aging population is not the prime cause of fewer jobs and lower income from 2001-2015.

]]> By: Don https://michiganfuture.org/2015/04/michigan-2001/#comment-8114 Thu, 02 Apr 2015 15:09:46 +0000 https://www.michiganfuture.org/?p=6549#comment-8114 Are there any studies showing what portion of the decline in adult employment rate is due to people who want a job but cannot find an acceptable one, and what portion of the decline is due to people reaching their targeted retirement date and not wanting to work any more. I have noted in some of your statistical studies that our population of people 65 and older has increased more than other states and Michigan’s percentage of people over 65 is increasing. I think at that age a lot of people with a decent pension and social security start wanting to retire whether the economy is good or not. I know there are many people who want to work and are not reflected in the official unemployment rate because the have given up. But there are also retired people enjoying life with a nice pension and not wanting to work. Also a related question. Do you think a higher than average number of retired people can actually help Michigan’s economy by spending their pensions and social security while not competing with younger workers for jobs?

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