Dr. Paul Isely

Unemployment benefits form
Wikimedia Commons

Michigan’s April unemployment rate is one of the highest in the nation second only to Nevada based on people declaring unemployment benefits. 

“Looking at something from a month ago gives you information about where you are and where you’re heading.”

Paul Isely, Associate Dean in the Seidman College of Business at Grand Valley State University. He says the 22.7% unemployment rate was generated the week of April 12th. What does he expect when the numbers are calculated for May?

Seidman College of Business at GVSU
GVSU

 We talk all things COVID-19 and the economic rollercoaster, Dr. Paul Isely, GVSU Seidman College of Business, with the conversation.

Dr. Paul Isely, 2020 Economic Forecast, DeVos Place, Grand Rapids, MI
Valerie Wojciechowski / gvsu.edu

West Michigan’s economy is in the midst of a manufacturing recession. The details were revealed during Thursday’s 2020 Colliers Annual Economic and Commercial Real Estate Forecast was held at DeVos Place.

Both the U.S. and Michigan’s manufacturing sector are in recession.

“Right now, as we stand here in the United States and in West Michigan, have a sectoral recession happening in a part of the economy that is 20% to 25% of Michigan.”

Paul Isely, Associate Dean in the Seidman College of Business at Grand Valley State University
Grand Valley State University

In an interview with CNN, former Chair of the Federal Reserve Alan Greenspan said that the stock market could still go higher but “At the end of that run, run for cover."

So, what are the factors Greenspan is taking into account and is the U.S. economy at risk? WGVU talks with Paul Isely, associate dean in the Seidman College of Business at Grand Valley State University.

Paul Isely, Associate Dean in the Seidman College of Business at Grand Valley State University
Grand Valley State University

President Donald Trump isn't budging on his international tariff stance so far despite remarkably public pleadings from House Speaker Paul Ryan and other Republican allies to back off his threat and avoid a possible trade war.

Trump says, "We're not backing down." But he's holding open the possibility of exempting longstanding friends Canada and Mexico if they agree to better terms for the U.S. in revising the North American Free Trade Agreement.

Frederik Meijer Gardens and Sculpture Park annually generates more than $75 million in Kent County. WGVU breaks down the economic impact study with one of its authors from Grand Valley State University’s Seidman College of Business.