{"id":288094,"date":"2026-04-27T13:23:18","date_gmt":"2026-04-27T13:23:18","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ca\/288094\/"},"modified":"2026-04-27T13:23:18","modified_gmt":"2026-04-27T13:23:18","slug":"u-of-m-researchers-share-oakland-countys-economic-outlook","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ca\/288094\/","title":{"rendered":"U of M Researchers Share Oakland County’s Economic Outlook"},"content":{"rendered":"

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U of M Researchers Share Oakland County\u2019s Economic Outlook<\/p>\n

(Crystal A. Proxmire, April 26, 2026)<\/p>\n

Novi, MI \u2013 How do national, and even international events impact the economy of Oakland County?\u00a0 What is going well, and what can be improved, to protect prosperity and continue growth?\u00a0 These are some of the concerns county officials face, and having independent research helps them make the best decisions.\u00a0 That\u2019s why researchers from the RSQE (Research Seminar in Quantitative Economics) Team at University of Michigan have prepared the 2026-2028 Oakland County Economic Outlook.<\/p>\n

On April 22, Dr. Gabriel M. Ehrlich of U of M joined Oakland County Executive Dave Coulter and Director of Economic Development Don Holmes at Vibe Credit Union Showplace in Novi to discuss the findings, first with the press and then with an audience of community leaders from around the county.<\/p>\n

Jobs are of course a concern. Nation-wide, communities are still recovering from the pandemic-related shutdowns and loss of businesses just over five years ago.\u00a0 \u201cBy 2028, the county is expected to have largely recovered its pandemic-era job losses in most sectors, sustained by its status as one of the most economically resilient counties in the nation with a high concentration of professional jobs,\u201d Dr. Ehrlich said.<\/p>\n

Coulter expressed that while the county is bolstered by high-paying professional jobs, that communities need jobs, and workers, of all skill and wage levels.\u00a0 The county aims to strengthen the workforce with recruiting companies to locate in Oakland County from other parts of the world, by being a welcoming place for immigrants, and by focusing on educational goals like the Oakland 80 program which aims for having 80% of the population receive some education or specialized training beyond high school.\u00a0 Currently nearly 64% of adults have at least an associate\u2019s degree.<\/p>\n

Dr. Ehrlich and his team predict that the labor force will reach an all time high of 695,000 residents by 2028.\u00a0 Average real wages are expected to rise to $79,800 by 2028, which is about $9,100 higher than the statewide average.\u00a0 However, adjusting this number with the cost of living, the advantage is not as robust.<\/p>\n

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The outlook for jobs varies depending on the sector.<\/p>\n

According to the report, the manufacturing sectors lost about 2,800 jobs in 2025, but the re-opening of GM\u2019s Orion Assembly plant is expected to offset the loss with 1,400 jobs to be gained in 2027 and 2028.<\/p>\n

The finance and insurance sector reached it\u2019s highest employment level of this decade in 2025, with a projected 720 jobs being added per year in these fields over the next three years.\u00a0 And health and social services will also likely see increases.<\/p>\n

However some sectors are still struggling or remaining stagnant. Jobs in accommodations and food service seem to be on a plateau, while retail and hospitality continue to decline, largely with competition from online sources.\u00a0 Those who want to work in traditional retail may find there are about 500 fewer positions each successive year.<\/p>\n

And for those in the professional and technical services sector, jobs are disappearing by about 2,600 by the end of 2028.<\/p>\n

The employment prospects are not out of line with trends elsewhere, and Oakland County continues to outperform other counties nationally.\u00a0 It ranks 11th in a study of 27 similar US counties.<\/p>\n

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The numbers are only estimates, and there is instability in the world with the potential to cause even more economic challenges.\u00a0 Last year\u2019s government shutdown impacted many job sectors. Tariffs have caused price increases and disruption.\u00a0 And the outbreak of war in Iran has pushed fuel prices upward, which also impact other costs.\u00a0 High interest rates are also not helping.<\/p>\n

Yet while growth may be hampered by these forces, Oakland County remains resilient and proactive.\u00a0 The report explains several advantages Oakland County has, including \u201ca well-educated population, a large professional workforce, and low child poverty.\u201d\u00a0 It goes on to state that \u201cthe county posts the highest real GDP per capita in Michigan, and its economy is rooted in knowledge-based industries.\u201d<\/p>\n

\u201cWe are hoping that a less volatile policy and macroeconomic environment will create a more conducive backdrop for Oakland\u2019s fundamentals to shine through,\u201d Ehrlich said.<\/p>\n

Learn more and view the full report at https:\/\/www.oakgov.com\/business\/business-development\/economic-outlook<\/a><\/p>\n


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