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In April 2008, metropolitan Detroit's unemployment rate was 6.9 percent; in November 2012, it was 7.9 percent. [2] [14] Economic issues include the city of Detroit's unemployment rate at 15.8 percent in April 2012. [2] The suburbs typically have low unemployment.
The pain of 7% mortgage rates has done little this summer to slow rising home sale prices in metro Detroit. The median sale price hit $285,000 in June for metro Detroit houses and condos, up 5.6% ...
The S&P CoreLogic Case-Shiller index, released Tuesday, shows home prices in metro Detroit rose 6.7% from a year earlier, buoyed by low inventory.
The average rate for a 30-year fixed-rate mortgage was 6.95% as of July 3, according to Freddie Mac. That’s well down from a high of 7.79% in October 2023 and below the 52-week average. Rates ...
The Consumer Price Index was initiated during World War I, when rapid increases in prices, particularly in shipbuilding centers, made an index essential for calculating cost-of-living adjustments in wages. To provide appropriate weighting patterns for the index, it reflected the relative importance of goods and services purchased in 92 ...
The Detroit News published a story in 2005 on how the Big Three U.S. automakers paid more than 12,000 idled employees their full salary and benefits in "jobs bank" programs. The program was established in the 1984 UAW labor contracts with the Big Three to protect workers' salaries and discourage layoffs, as part of the automakers' contracts ...
With every trip to a grocery or department store, consumers continue to be hit hard by rising prices. The U.S. Department of Agriculture said that the Consumer Price Index for food increased by 25 ...
The Federal Reserve Bank of Chicago Detroit Branch Building is a bank building located at 160 W. Fort Street in Detroit, Michigan . The building was constructed in 1927 in a Classical Revival style. In 1951, the bank added an eight-story glass-and-marble annex, designed by Minoru Yamasaki. [ 6] The Modern annex is clearly designed not to mimic ...