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Michigan has traditionally been a
powerhouse of American industry and manufacturing. Besides a well-known auto
industry, a core agricultural base in fruit and vegetable production and timber
and iron ore in the Upper Peninsula have driven an economy serving nearly 10
million residents.
A extensive transportation hob of railroads, interstate roadways and major bridges
unite the state with the industrial regions of the Great Lakes, Chicago and
Ontario, Canada. With thousands of fresh water lakes and ponds and miles of
forestry, tourism and recreational businesses rank high.
The recession has hit Michigan hard and had crippled an auto industry that was
essential to the overall American economy. While unemployment is around 9.3
percent, the auto industry is presently experiencing an important comeback after
receiving government stimulus funds. In 2011, the state added 63,500 jobs in the
private sector.
Areas that have shown job growth since 2010, based on figures from the United
States Bureau of Labor Statistics, include professional and business services,
manufacturing, education and health services, information and finance. The mining
and logging and trade, transportation and utilities sectors have shown seasonal
growth. The University of Michigan projects 26,000 new non-government jobs in
2012.
Additional information can be found
regarding Michigan's economy and key employers by visiting Wikipedia: Michigan Economy.
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