Anderson Economic Group released updated data in its Economic Conditions Monitor for important economic indicators in the U.S., Michigan and Illinois. The monitor includes data from the Great Recession to October 2024.
Key insights in the Economic Conditions Monitor include:
- The U.S. labor force participation rate was 62.6% in October 2024, 0.1 percentage point down from 62.7% in September 2024.
- The U.S. 30-year fixed mortgage rate in October 2024 was 6.4%, a slight increase from 6.18% in September 2024.
- The U.S. unemployment rate was 4.1% in October 2024, and there was no change from September 2024.
- The percent change in Consumer Price Index for Detroit-Warren-Dearborn consumers was 3.5%, down from 6.7% in September 2024.
Other indicators available in the monitor include GDP, personal income and private jobs and more.
Tyler Theile, COO and director of public policy and economic analysis at Anderson Economic Group (left) is available to discuss the updates to the data and provide historical context. Theile can also connect the data to topical issues across Michigan and the U.S. including tariffs, inflation and the housing market.
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About Anderson Economic Group
Since its founding in 1996, Anderson Economic Group has become one of the nation’s premier boutique consulting firms, specializing in business valuation, expert testimony, and public policy. Anderson Economic Group has assisted governments, universities, large corporations, and businesses across the U.S. and abroad. All of the firm’s work is grounded in the core values of professionalism, integrity, and expertise. Anderson Economic Group has offices in East Lansing, Michigan and Chicago, Illinois. For more information or to speak with one of our experts, visit andersoneconomicgroup.com.
