Michigan's unemployment rate stands at 5%, placing it third highest nationally, though this figure is historically low. An economist notes the market is unpredictable due to factors like aging demographics and a decrease in job seekers. Rising interest rates and potential federal policy shifts create headwinds for businesses. Pfizer is laying off 150 employees at its Portage plant due to reduced product demand. Kroger has also announced significant corporate-level job cuts.
Kalamazoo, Michigan
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