9.29.23

Friday Five Business Briefing – September 29, 2023

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Here’s news you can use in a constantly changing business environment, including an increase in Michigan unemployment with a simultaneous gain in the workforce, pay transparency, how to double the chances of getting a response to your emails and more.

  1. Numbers of both unemployed and employed increase — While Michigan’s unemployment rate increased to 3.7% from July to August, 25,000 people have joined the workforce during the same period, with leisure, hospitality and government sectors showing the biggest jobs gains.
  2. Pay transparency in the corporate world — After a career in the army where pay is radically transparent, Roxanne Petraeus co-founded a company with pay transparency at every level to help eliminate pay iniquities that disproportionately impact women and people of color.
  3. Lack of housing options a concern — Local officials—from urban, suburban and rural areas alike—are expressing concern about insufficient single-family housing and multifamily housing in Michigan.
  4. Double the chance of getting a response to email — Make it shorter, according to a pair of Harvard professors. Discover why cutting word count can email boost engagement.
  5. The upside to showing your downside — Too much polish for workplace leaders sets up a crippling expectation. It’s better if people see you as human. Listen to the podcast that makes the case for admitting (some) flaws at work.

Thank you to our Friday Five sources:. Michigan Radio, Fast Company, University of Michigan, Inc. and Kellogg Insight.

 

All loans subject to approval. Rates, terms and conditions are subject to change and may vary based on credit worthiness, qualifications and collateral conditions. Federally insured by NCUA

Consumers business services

Do you have business banking questions? Contact our knowledgeable commercial loan officers.

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