In recent years, Michigan's rate of income growth has trailed the rest of the nation, after exceeding it in the early years of the expansion. But that's a typical Michigan phenomenon. North American car and truck production this year is on track to set a record near 18 million, above 1999's record of 17.6 million, according to the trade journal Ward's Automotive Reports. Michigan's unemployment rate in August stood at 3.8 percent, and labor shortages have emerged as a drag on economic growth. At the same time, income growth has slowed, surveys show retailers were slightly less upbeat in recent months about sales prospects, and auto sales are expected to fall about 6 percent in 2001.
Good times breed robust, strong competition.
That has helped perpetuate this boom. Everybody seems to be in an absolute slugfest. I believe it's really the free enterprise system and entrepreneurship and the opportunities that the Internet provided. In a statewide survey, likely voters identified the most pressing issues facing the state and nation.