Just in case you were wondering if the Obama administration’s decision to save the automotive industry in the USA was a good idea, check this out:
The number of people employed by the Detroit Three in Michigan could increase 34% as the economy and automotive sales slowly recover, Sean McAlinden, senior economist for the Center for Automotive Research said today.
The painful plant closures and job cuts over the last several years, combined with lower labor costs and improved vehicle quality, have the Detroit Three positioned to add jobs as the economy recovers, he said.
By 2015, employment by the Detroit Three in Michigan should increase to about 137,000 from about 101,936 in 2010. Nationwide, he expects Detroit Three will increase employment to 205,800 in 2015 from 171,442 in 2010.
For those of us living in the Rustbelt states, this is fine, fine news. While I am a strong advocate for diversifying our economy in Michigan, the fact remains that nearly two-thirds of the jobs in our state are related to vehicle production. An increase of 34% over the next four years is news good enough to cheer about.
It is also just more vindication to all of those on both sides of the political aisle that wanted to walk away from our domestic vehicle manufacturers.
Oh, and one more thing: don’t forget that the so-called “bailout” was not a grant or a gift. It was essentially a loan program. And those loans are being paid back. With interest.
I’m just sayin’…