Greetings! The Sequester delayed many things including some of the economic reports, so finally, here we are.
Since the last reporting of jobless rates a number of updates were released by the US Census. Among the updated estimates included children in poverty and 45 of 46 counties saw percentage increases, while poverty rates increased in 37 of the 46 counties. In so far as median household income reporting, eleven of the 51 counties (including the five Wisconsin counties) rose while 40 saw a decline, and 48 of the 51 counties saw a rise in their median age. Also the jobless rates being reported are in relationship to August. What we saw there was that 37 counties experienced an increase in their jobless rates, 11 decreased, and three stayed the same. We did however see among our Michigan counties, 28 demonstrate an increase in the percentage of bachelor degree holders, 3 remained the same and 15 had decreased percentages since the last Census estimate.
Insofar as Northern Initiatives we will be concluding agreements with 8 units of local government next week which will lead us to manage their revolving loan funds. Four other agreements are in process, and likely to be completed before year’s end. Also we recently entered into an agreement with the Lundin Foundation to launch the Eagle Emerging Entrepreneurs Fund. The fund is providing a 75% guarantee on loans of less than $50,000 and it is being piloted in Marquette County. It is helping us to take a longer look and have more tools to meet the capital needs of more customers. Our first loan was approved by loan committee today, and it will combine a term loan and a royalty agreement. The agreement will also help us to launch more technical assistance resources in support of our borrowers.
MICHIGAN Jobless for October 2013 by Northern Initiatives
Click To Submit Press Releases, News, Calendar Items, and Community Events to mediaBrew radio stations WFXD, WKQS, WRUP, GTO, Fox Sport Marquette, and 106.1 The Sound
Marquette, Michigan Calendar; Ishpeming Calendar; Negaunee Calendar; Gwinn Calendar; Negaunee Calendar and Events; Upper Peninsula Calendar of Events; Escanaba Events and Calendar