Sign in to comment!

Menu
Home

Economy

A look at Michigan ahead of Tuesday's GOP primary

A profile of Michigan, site of a Republican presidential primary election on Tuesday:

NUMBERS:

Population: 9,875,187

AGE:

Median age: 38.9

Percentage of population 65 and over: 13.8

Percentage of population 85 and over: 1.9

RACE:

78.9 percent white, 14.2 percent black, 2.4 percent Asian, 0.6 percent American Indian, 1.5 percent other, 2.3 percent two or more races, 4.4 percent Hispanic or Latino origin

LANGUAGE:

Language other than English spoken at home: 8.9 percent

EDUCATION:

High school graduate: 88 percent

Bachelor's degree or higher: 25 percent

MONEY:

Median household income: $48,432

People below poverty level: 14.8 percent

Housing units occupied by owners: 72.1 percent

Housing units occupied by renters: 27.9 percent

2008 PRESIDENTIAL RESULTS:

Barack Obama, 57 percent; John McCain, 41 percent.

REGISTERED VOTERS:

7.3 million

MICHIGAN QUICK FACTS:

— Michigan had the nation's highest unemployment rate for years and endured a decade of economic woes. The state's December unemployment rate dropped to 9.3 percent from a high in August 2009 of 14.1 percent. Michigan now ranks 10th nationally, but remains above the national rate of 8.5 percent.

— Michigan last year added 80,000 manufacturing, service and other jobs, making it among the states recovering fastest from the recession.

— Besides being a leading manufacturer of cars and trucks, Michigan is the nation's top producer of tart cherries. It's also among national leaders for prepared cereals, machine tools, sugar beets and furniture.

— Michigan has 11,000 inland lakes and 36,000 streams and is the only state adjoining four of the five Great Lakes.

— It has 3,288 miles of shoreline, more than any state except Alaska.

___

Sources: 2010 and 2011 U.S. Census Data, Michigan Labor Market Information Office

Bank Rates

Loan Type Graph Rate +/- Last Week
30 Y Fixed Graph 3.98% dw 4.08%  
15 Y Fixed Graph 3.09% dw 3.11%  
30 Y Fixed Jumbo Graph 4.20% -- 4.20%  
5/1 ARM Graph 3.20% dw 3.22%  
5/1 Jumbo ARM Graph 3.51% up 3.47%  
Loan Type Graph Rate +/- Last Week
$30K HELOC Graph 4.30% up 4.26%  
$50K HELOC Graph 3.97% up 3.95%  
$30K Loan Graph 4.99% -- 4.99%  
$50K Loan Graph 4.34% -- 4.34%  
$75K Loan Graph 4.36% -- 4.36%  
Loan Type Graph Rate +/- Last Week
36 M New Graph 2.94% dw 2.96%  
36 M Used Graph 3.48% dw 3.50%  
48 M New Graph 3.19% dw 3.23%  
48 M Used Graph 2.99% dw 3.06%  
60 M New Graph 3.20% dw 3.25%  
Loan Type Graph Yield +/- Last Week
6 month Graph 0.39% dw 0.40%  
1 yr Graph 0.70% -- 0.69%  
5 yr Graph 1.55% up 1.53%