Seidman Business Review

2023 Seidman Business Review

2023 Economic Forecast

This year's annual forecast takes stock of the local economy looking at confidence in the regional economy, employment, and sales projections, as well as inflation. How is the West Michigan economy expected to perform in 2023?

Paul Isely, Ph.D. and Kuhelika De, Ph.D.

Photo of Gerry Simmons

Letter from the Editor - Gerry Simons, Ph.D.

As always, my hope with the articles in the Review is that they serve to inform and educate. Our world has changed dramatically over the last few years, and for the growth of our society it is vital for us as individuals to understand how we can all better the storm.

Illustration of corporate recruiters looking to hire workers using an online application on a cell phone.

Trends in the West Michigan Labor Market

Labor shortages and associated wage increases were frequent headlines during 2022. With media reports, and what we personally hear from business associates (so-called “anecdotal evidence”), we must be careful with our conclusions as the data might not reflect what is happening overall.

Gerry Simons, Ph.D.

Colorful graphic with buildings and stock prices in the background.

West Michigan Stock Returns

The West Michigan Stock Index decreased 8.4% in 2022, but that performance was relatively good compared with the most widely followed stock market indices.

Gregg Dimkoff, Ph.D.

Illustration of man and woman searching for housing using their cell phones and considering the rent vs. buy choice.

How Housing Affordability Affects the Local Economy in Kent and Ottawa County-MI

In recent years, rising housing prices and rents have grown more challenging for low-income households. This article presents findings from a 2021 studying of housing affordability in the Grand Rapids regional economy. An update on recent housing costs and income trends is provided.

Laudo M. Ogura, Ph.D. and Christian Glupker, M.B.A.

Illustration of a man struggling to hold a house on his back.

Grand Rapids Housing Market: 2022 In Review

The Grand Rapids region housing market experienced rising interest rates in 2022 impacting housing affordability as housing prices rose despite a rise in building permits. Housing Price Index (HPI) figures are presented along with building permit data to provide a picture of the West Michigan housing landscape.

Laudo M. Ogura, Ph.D. and Paul Isely, Ph.D.

Illustration of stacks of coins representing funds disbursement due to Covid.

American Rescue Plan Act Funding for West Michigan

The American Rescue Plan Act of 2021 was designed to deliver unprecedented direct relief to the American people and to help rescue the economy reeling from the pandemic. Seidman College is working in partnership with the Grand Rapids Chamber to track these local funds.

Christopher John Cruz, Ph.D. and Bobbie Bibby, M.B.A.

Illustration of a mother trying to help a child do schoolwork at home on a laptop.

Digital Assessment Study for Kent County

The COVID-19 pandemic has exposed racial and socioeconomic disparities and divides with respect to access to digital technology across the globe and in West Michigan. This article summaries a larger report that offers a look at the access and adoption of technology in our local community.

Christopher John Cruz, Ph.D. and Paul Isely, Ph.D.

Illustration of a manager trying to help an employee solve a puzzle.

How Much Science Should a Manager Know?

No one has ever said it’s easy to manage people. Human behavior, it’s fair to say, can at times be a mystery to us all. Given the tremendous increase in knowledge about human behavior, even human nature, over the past thirty years, should we be educating managers to be more conversant with the scientific literature?

Michael DeWilde, M.T.S.

People Planet Profit diagram for Cascade Engineering with banner saying Content from the Classroom

Cascade Engineering Making a Positive Societal Impact in West Michigan

Content from the Classroom highlights a local company with an economic and societal impact – Cascade Engineering. This article provides insight into important content shared with Seidman students about balancing people, profit, and planet – the triple bottom line.

Jim Sanford, J.D., C.P.A. and Catherine Jones-Rikkers, J.D., M.B.A.