Michigan economy slides to 32nd in national outlook rankings

Michigan’s economic standing has deteriorated significantly, dropping from 12th to 32nd place in national economic outlook rankings between 2019 and 2026. The state currently ranks 43rd in economic vitality and performance, a decline that has intensified affordability challenges for residents.

A September report from the Georgetown Center on Poverty and Inequality found that nearly two-thirds of Michigan families are experiencing a cost-of-living squeeze. High prices for essential goods have pushed household debt to unprecedented levels, forcing families to rely more heavily on credit cards and loans for basic expenses.

The state’s economic struggles are rooted in decades of structural changes, including a shrinking manufacturing sector that has kept unemployment above the national average since the 1980s. Per capita income has generally lagged behind the national average since 1980, with the gap between state and national median incomes more than doubling since 2014.

Read the full story at michiganadvance.com.