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In the last couple of years, many economists have suggested that the U.S. economy could enter a recession in 2020 or 2021. Trade wars, ballooning corporate and personal debt, a flat manufacturing sector and many other factors have fueled the concern.

Fortunately, the U.S. economy is not yet in a recession, but that doesn’t mean that we have repealed the business cycle. A recession will come; we just don’t know exactly when it will hit. Right now, however, even as the national economy has slowed down, Michigan’s economy isn’t even doing nearly as well as the national average.

As we came out of the Great Recession of 2007-09, Michigan’s economy rebounded strongly. For several years, we added about 75,000 jobs per year. But that slowed to about 43,000 jobs per year in 2017 and 2018. This year, Michigan has had no job growth at all.

Read more in Crain’s Detroit Business