DETROIT (AP) – Economists are forecasting that household income and employment for Detroit residents will increase over the next four years.
Researchers with the University Economic Analysis partnership said Monday that Detroit’s unemployment rate will drop to just under 8% by 2023 and 2024.
About 6,700 more residents are expected to find jobs, mostly in the service sector. Total resident income is forecast to rise 4% to 4.7% per year through 2024. University of Michigan economist Donald Grimes says Fiat Chrysler’s new $2.5 billion assembly plant and the $4.4 billion Gordie Howe International Bridge project between Detroit and Windsor, Ontario, Canada, should provide new job opportunities.