The county jobless rates were reported yesterday so here is the updated information. Five counties had their jobless rates go down, three stayed the same, and 43 increased, not unusual for winter in the north. With the December numbers in place we will try during the first quarter to share some trends over the past few years by region and county. It is a little numbing to see that most counties are higher than Michigan so some trends will contribute to helping put more perspective to these numbers.
As reported last time, it was a record year for NI, and that means that our total portfolio reached a record number of loans,167 that we are managing. A lot of our attention in the first half of 2014 will be focused on being prepared for 250 portfolio loans, and how we can adjust our technical assistance approach, to support growth and quality. We want to be known as the very best in supporting companies with capital and business development services. We will give you updates on how we are making this happen as the year goes along.
| MICHIGAN ▪ LOWER PENINSULA (lending began in LP in 2007) | ||||||||||
| County Name
Median Age 2012 US Census Estimate (37.4) |
Pop.
2012 US Census Estimate 313,914,000 (1.7% since 2010) |
Median HH Income
2011 US Census $50,411 |
% of State Median HH
Income 2007-2011 US Census |
Un-employ-ment Rate Dec, 2013
US 6.7% |
Poverty Rate
2007-11 US Census 14.3% |
Children in Poverty (0-17)
2011 Kids Count Mi Data Book |
% Bachelors Degrees; Adults over 25
2007-2011 Census 28.2% |
Women Owned Firms
US Census 2007 28.8% |
||
| Michigan Total
Median Age 2012 Census Estimate (38.9) |
9,883,360 Red= decline between 2010 and 2012 (.0%) |
$45,931 90.9% of US Median* (34th rank among States) |
RED=<80% Blue =80 to 90% Black = 90 to 100%, Green >100%*
|
Dec, 2013 8.4% MI-DLEG
Red= higher than the Mich. Jobless Rate |
17.5% Red = higher than the Mich. Poverty Rate* |
24.6% Red = higher than the Mich. Poverty Rate |
Mich. 25.3%* |
Mich. 30.4% Red=<30.4% _ Data suppressed or sample size too small |
||
|
Region 2 – Loan Performance 2007 – December 31, 2013: 69 loans totaling $3,090,423 |
||||||||||
| Antrim (49) | 23,406 (.7) | $41,679 |
90.7% |
11.6% |
16.6% |
30% |
23.4% |
26.4% |
||
| Benzie (48) | 17,465 (.3) | $45,998 |
100.1% |
10.6% |
12.2% |
20.6% |
25.2% |
24.6% |
||
| Charlevoix (46.6) |
26,023 .3 |
$44,061 | 95.9% |
11.1% |
12.1% |
19.1% |
25.2% |
28.1% |
||
| Emmet (44) |
32,915 .7 |
$48,285 |
105.1% |
12.3% |
13.1% |
19.2% |
29.6% |
24.4% |
||
| Grand Traverse (41.7) | 89,112 2.4 | $46,786 | 101.9% |
7.4% |
13.6% |
18.8% |
29.8% |
24.7% |
||
| Kalkaska (43.8) | 17, 099 (.3) | $38,053 |
82.8% |
9.6% |
18.7% |
29.6% |
10.4% |
41.6% |
||
| Leelanau (52.3) | 21,607 (.5) | $51,267 | 111.6% |
7.2% |
11.9% |
18.3% |
38.6% |
27.1% |
||
| Manistee (48) | 24,672 (.2) | $39,347 |
85.7% |
10.4% |
16.8% |
27.4% |
17.6% |
27.5% |
||
| Missaukee (43) | 15,031 1.2 | $37,616 |
81.9% |
12.3% |
19% |
29% |
13.4% |
17.5% |
||
| Wexford (41.9) | 32,608 (.4) |
$43,873 |
95.5% |
11.9% |
15.2% |
24.8% |
16.5% |
– |
||
| 297,912 |
|
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|
Region 3 – Loan Performance 2007 – December 31, 2013: 62 loans totaling $4,783,061 |
||||||||||
| Alcona (56.5) |
10,635 (2.8) |
$35,407 |
77.1% |
15% |
17.9% |
32.6% |
12.8% |
20.4% |
||
| Alpena (46.5) | 29,234 (1.2) | $37,270 |
81.1% |
9.5% |
18.6% |
27.4% |
15.4% |
27.5% |
||
| Cheboygan (48.3) | 25,835 (1.2) | $37,133 |
80.8% |
16.5% |
18.9% |
31% |
17.3% |
30.2% |
||
| Crawford (48.7) | 14,009 (.5) | $37,874 |
82.5% |
10.6% |
17.6% |
29.6% |
15% |
– |
||
| Iosco (51.8) | 25,357 (2) | $33,487 | 72.9% |
12% |
22.1% |
36.5% |
13.7% |
30.3% |
||
| Montmorency (53.8) | 9,476(3) | $32,241 | 70.2% |
16.1% |
18.9% |
35.3% |
10.4% |
30.1% |
||
| Ogemaw (48.8) | 21,437 (1.2) | $33,222 | 72.3% |
11.4% |
22.1% |
37.5% |
10.5% |
– |
||
| Oscoda (50.5) | 8,592 (.6) | $31,579 |
68.8% |
18.1% |
19.2% |
33.2% |
9.7% |
17.4% |
||
| Otsego (44.2) | 24,020 (.6) | $44,129 |
96.1% |
10.8% |
13.6% |
22.5% |
20% |
20.5% |
||
| Presque Isle (53) | 13,129 (1.8) |
$39,483 |
86% |
14.7% |
15.5% |
25.5% |
14.3% |
17.3% |
||
| Roscommon (54.1) | 24,106 (1.4) | $32,742 |
71.3% |
12.1% |
21.2% |
35.8% |
13.8% |
22% |
||
| 208,746 |
|
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|
Region 4 – Loan Performance 2007 – December 31, 2013: 6 loans totaling $328,220 |
||||||||||
| Lake (51.4) | 11,498 (.4) | $28,971 | 62.7% |
12.9% |
26.9% |
48.3% |
9.4% |
15.9% |
||
| Mason (45.7) | 28,680 (.1) | $39,901 |
85.1% |
9.2% |
18.1% |
26.7% |
19.5% |
25.7% |
||
| Mecosta (34.6) | 43,318 1.2 |
$38,634 |
84.1% |
8.2% |
25.6% |
36.1% |
21.6% |
– |
||
| Newaygo (42.1) | 47,959 (1) | $41,674 |
90.7% |
8% |
17.9% |
26.9% |
13.1% |
30.1% |
||
| Oceana (42.4) | 26,310(1) | $39,670 |
86.4% |
11.4% |
20.7% |
31.5% |
14.8% |
20.6% |
||
| Osceola (42.5) | 23,276 (1.1) | $38,404 |
83.6% |
10.5% |
17.6% |
27.9% |
12.5% |
29.5% |
||
| 181,600 |
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