UM Economist predicts Auckland employment to achieve pre-COVID levels by 2025.

Oakland County is poised for positive economic growth in the next three years, according to economists Gabriel Ehrlich and Donald Grimes from the UM Research Seminar in Quantitative Economics. While the domestic economy is experiencing a slowdown, job growth is expected to continue across various industries. By the end of 2022, around 82% of jobs lost to the pandemic are anticipated to be restored, despite ongoing labor shortages. Although car sales remain at recession levels, backlogs of demand in the auto manufacturing industry are likely to boost employment, making it one of the country’s most prosperous counties.

The employment rate is expected to grow by 1.2% in the next three years, with employment numbers set to return to pre-pandemic levels during the second quarter of 2025, according to The Economist’s report for the year. The median household income in the area that includes Pontiac and Waterford Townships was less than half the average for regions including Birmingham, Bloomfield Hills, and Bloomfield Township. While employment is expected to fall by 8,000 in the next 12 months, factors such as commuting and workers with multiple jobs can be at play.

When addressing the healthcare employment gap with immigrants, Oakland County Administrator David Coulter said that the historically low unemployment rate “makes it difficult to find homeworkers in all sectors.” The county and the state require all nationalities from all countries to make it stronger.

Overall, economists stated that Oakland County is well-positioned for the future. It boasts a high proportion of managers and professionals, and an attractive standard of living, which should provide a strong foundation for economic prosperity in the forecast period and beyond.

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