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ABC National's Chief Economist, Anirban Basu, shared his economic predictions for 2014 at a packed house luncheon event hosted by the Western Michigan Chapter in Hudsonville on December 3. Basu shared a series of datasets that looked at economic sectors, the global and U.S. economies, and where we can expect to see growth in the coming year. According to Basu, the "recovery is soft, but there." 

 

Basu noted that economic numbers show construction spending is improving - there is positive momentum, it is just a much slower recovery than the market would have hoped for. Year-over-year non-residential construction remains down, but jobs are continuing to be added in Michigan's construction industry. No states are currently in recession - Michigan joins much of the country in "recovery" mode, and the states that are now back to expanding are those states with healthy natural resources.

 

While Michigan remains ranked 49th in the U.S. in unemployment,  Basu pointed out that the state's recession actually began in 2000, and that therefore, although Michigan shows growth, the "hole that [Michigan] must dig out of is greater." A special concern, noted by a audience member, is the portion of the US population that has simply dropped out of the labor market. Basu connected the drop in the labor force to ABC members' continued difficulties in finding the right skilled labor for their projects, and noted that the problem was unfortunately likely to continue from an economic standpoint. ABC members should seek to market the idea (especially to young people) that construction is an industry that rewards working with "both your mind and your hands" - and also can significantly reward those "Gen Y" young adults that are interested in entrepreneurship.

 

ABC also recently reported October's construction numbers, and "as expected, construction spending was hindered by a combination of elevated uncertainty and delayed procurement resulting from the government shutdown," said Basu. "The October data suggest nonresidential construction spending could regain a certain degree of momentum during the months ahead, though the long-anticipated acceleration in spending is unlikely to occur until after the first quarter of 2014." 

 

Thanks to ABC - Western Michigan Chapter for hosting such a great event for members and guests. Read more about Mr. Basu here. 

The Michigan Senate and ABC of Michigan are working together to implement improvements to the Michigan Merit Curriculum with the goal of providing students better access to Career and Technical Education (CTE) and vocational choices as well as traditional academic paths. As the demand for highly paid and skilled workers increases, improving the Michigan Merit Curriculum to better include options for CTE-related career opportunities is a key element to ensuring we have a talented workforce that Michigan's economy can rely upon. 

 

ABC has educational partnerships in Michigan with community colleges, M-TEC Centers, the Department of Veterans Affairs, Michigan Works, high schools and Michigan employers who depend on a highly skilled and educated workforce. These employers range from small, family-owned businesses to major employers like Dow Chemical. Because ABC members depend upon a skilled workforce, ABC chapters provide training facilities in Midland, Madison Heights, Grand Rapids and Lansing in addition to another 70 educational and training facilities throughout the United States.

 

In Michigan the need for skilled construction workers is expected to increase by 20 percent over the next decade. As CBS News reported last week, the average construction worker is in their 40s or 50s, depending on the trade.  Nationally, 2 million well-paid construction jobs need to be filled by the year 2020.

 

The construction industry sees a need for improved flexibility to the Michigan Merit Curriculum, including improving Personal Curriculum options for students and parents. Allowing for greater flexibility within the Merit Curriculum has the added benefit of equipping students, parents and educators with additional opportunities to meet CTE needs in our high schools. Making changes to allow for greater flexibility makes sense. 

 

The Senate Education Committee is currently reviewing changes for possible improvements to the curriculum, just as the House of Representatives did earlier this year with a bi-partisan, super-majority vote. 

ABC members - please note new contact information for ABC National. 

New address:

440 First St., N.W. 

Ste. 200

Washington, D.C., 20001

 

The phone numbers for ABC National staff have changed - please use this list for the most up to date number. 

Email addresses will remain the same for ABC staff.