LANSING, Mich. — Governor Gretchen Whitmer released a statement Wednesday after the release of the state’s latest economic numbers.
The data shows Michigan’s unemployment rate dropped again in April for the tenth straight month, to a low of 4.3%.
“Thanks to our hardworking people and small businesses, our economy is growing and unemployment is at 4.3%, a pandemic-low. That’s something to celebrate.
“In the weeks ahead, I look forward to working across the aisle to enact a fourth balanced, bipartisan budget that invests in the kitchen-table issues that matter most to families, communities and small businesses so we can continue growing our economy.
“Working families across Michigan should not have to worry about earning enough to pay the bills, afford medication or put food on the table.
“That’s why I’m focused on lowering costs and putting more money in people’s pockets.
“Tough times don’t last, but tough people do. I have no doubt that our hardworking people, innovative small businesses and resilient communities will continue moving Michigan forward.
“Let’s all stay focused on lowering costs, growing our economy and working together to get things done,” said Governor Whitmer.
Economy
The Michigan Executive Office to the Governor says the state experienced its best economic recovery in history over the last two years, according to Bloomberg.
The governor’s office says Michigan is ranked number one nationwide based on equally weighted measures of employment, personal income, home prices and stock market performance of publicly traded companies.
Economic Development
In December 2021, Governor Whitmer signed bipartisan legislation empowering Michigan’s economic development with a fund to give the Michigan Economic Development Corporation a new set of tools to land some of the major projects in their pipeline.
The governor’s office says those projects will lead to billions in investments and tens of thousands of jobs.
Governor Whitmer says this legislation led to GM’s announcement of a $7 billion investment in Michigan building electric vehicles and batteries.
It also set up fund for small business relief, building on work the state has done since March 2020 to create 23 economic relief programs and deliver $240 million to small businesses in all 83 Michigan counties.
Cutting Taxes, Lowering Costs
In December, Governor Whitmer signed a bipartisan tax cut for small businesses.
Her office says this allows small business owners to exempt more of their person property.
Governor Whitmer also signed bipartisan legislation repealing the tampon tax.
Her office says these tax cuts will put thousands of dollars back into the pockets of more than 1.2 million households across Michigan, ensuring they are not as heavily impacted by price increases.
