If you are going to this year’s North American International Auto Show, you’ll notice something new and different. I am not talking about new models of cars and trucks that will be out in the market in the next few years, although that by itself is one indication of how well the automotive industry is performing. Last year, a new record of more than 17.5 million cars and trucks were sold in the U.S. Auto manufacturing jobs have been added in Southeast Michigan since the end of the Great Recession (see blue line in the chart below).
The future health of the auto industry remains key to our region’s overall well being. And the industry is definitely transforming. As soon as I walked into Cobo Center, I saw dynamic displays of the future mobility, including innovations in autonomous driving, connected vehicle technologies, and shared mobility services. That is what is really new to this auto show and the implication to our economy is significant. If we have a larger share in future mobility technology, we’ll grow jobs in related fields, such as engineering and software development. Our concentration in professional, scientific, and technical jobs is already high and is growing faster than manufacturing (see orange line in chart). Leveraging this strength will help us transform our economy to more knowledge-based and increase prosperity in the region.
Future mobility is not only about technical innovations. It is also related to many other areas from regulation to finance. We can’t forget about diversifying our economy, particularly when the economy is good. For example, we have potential to grow our finance sector to a higher level (see green line in chart). How much will that benefit our overall economy? Those are the questions we are asking and trying to analyze as we develop SEMCOG’s 2045 Regional Forecast, which will be adopted by General Assembly in March. Stay tuned for more information coming soon.
Jobs in Southeast Michigan, 2000-2015
Source: SEMCOG analysis of QCEW estimates, Michigan Labor Market Information
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