Michigan Job Market Improves While Wages Take a Dive

Michigan Job Market Improves While Wages Take a DiveThe state wide employment increase is at a record high as of lately. According to the Bureau of Technology, Management and Budget, West Michigan employment growth has been the best in the state growing by 3.8 percent. However, statewide, employment is up a total of 1.7 percent over the past year. Although this is great news, one problem remains:  the wages for these available jobs have not kept pace with the demand. Given this recent development, it is important to protect your business from potential grievances from employees with a Michigan Employment Practices Liability insurance policy.

Although Michigan’s recovery from the recession is beginning to take shape, wages are no longer above the national average.  The most recent statistics show 73 out of 83 Michigan counties paid wages that fell under the national average of $1,000 per week, according to U.S. Bureau of Labor Statistics. A decrease in middle class jobs and the closing of major factories have attributed to this issue. Therefore, this means that more employee labor disputes are to be expected against the local businesses.

At Capital Insurance Group, we strive to protect your assets against liabilities and losses in order to ensure the longevity and success of your business. We offer a variety of coverage plans which include blanket coverage against employee claims for wrongful termination, mismanagement of benefits, breach of contract, and more. We are proud to offer affordable Michigan Business Insurance and we’re here to help you create a policy that’s designed to fit your needs and budget. Contact us today at 888 296 0418 to learn more and review our other business solutions.