Detroit's unemployment rate declined by 0.6 percentage points and the number of Detroit residents employed increased by 1,400 from last December to this May, a University of Michigan economic forecaster told city officials on Monday.
Speaking at the city's Revenue Estimating Conference at the Coleman A. Young Municipal Center on Monday afternoon, which happens twice a year, Gabriel Ehrlich, director of the University of Michigan's Research Seminar in Quantitative Economics, delved into the current state of Detroit's economy and provided an outlook for what he sees ahead.
Detroit's seasonally adjusted unemployment rate stood at 9.7% this May, though Ehrlich noted that employment among Detroit residents climbed by another 2,000 residents from May to July of this year.
Detroit's seasonally