University of Michigan Surveys of Consumers (October 9th, 2026): Short Term ok With Long Term Concerns

October 9th, 2026

ESCANABA MI.-Consumers are becoming more pessimistic about current economic conditions, although the decline in confidence has been modest. Meanwhile, short-term expectations have improved slightly, suggesting consumers believe things may be okay for now.

However, concerns about the long-term economy and rising prices continue to weigh on consumer confidence. With inflation putting pressure on household budgets, consumers may limit unnecessary borrowing and credit card debt to protect their financial stability.

Summary of the University of Michigan Surveys of Consumers

• The University of Michigan’s Surveys of Consumers measures how people feel about the economy, their personal finances, and future economic conditions.
• The Index of Consumer Sentiment was 46.3 in October 2026, down from 48.1 in September 2026 and 53.6 in October 2025.
• The Current Economic Conditions Index fell to 44.7, reflecting increased concerns about current economic circumstances, high prices, and borrowing costs.
• The Index of Consumer Expectations rose to 47.3 in October 2026 from 46.3 in September, suggesting a slight improvement in consumers’ short-term economic outlook.
• Inflation expectations increased: consumers expected year-ahead inflation of 4.7%, up from 4.6% in September, while long-run inflation expectations rose from 3.4% to 3.5%. Overall, concerns about the cost of living and economic uncertainty continued to weigh on consumer sentiment.

University of Michigan, Institute for Social Research. (2026). Surveys of consumers. https://www.sca.isr.umich.edu/

August Wholesale Trade Report 2026

The wholesale trade report provides insight into the role of wholesalers as intermediaries between manufacturers and retailers. It may also offer insight into imports and exports, depending on where the goods and supplies originate. So these stats are tied to other stats to understand a broader economy.

The report presents a somewhat positive outlook, as wholesale inventories are growing. However, it is important to monitor consumer spending, market demand, and supply levels to better understand the potential impacts on specific industries and local communities.

Monthly Wholesale Trade Report: August 2026

• Wholesale sales in the United States reached $817.5 billion in August 2026, representing a 1.8% increase from July 2026.

• Wholesale sales increased by 15.6% compared with August 2025, indicating substantial year-over-year growth.

• Wholesale inventories totaled $964.2 billion at the end of August 2026, increasing by 0.5% from the previous month.

• Inventories rose 6.4% compared with August 2025, suggesting that wholesalers held more goods in stock than they did a year earlier.

• The inventory-to-sales ratio was 1.18 in August 2026, down from 1.28 in August 2025, indicating that inventory levels relative to monthly sales were lower than a year earlier.

U.S. Census Bureau. (2026, October 8). Monthly wholesale trade report: August 2026.https://www.census.gov/wholesale/current/index.html 

Unemployment Claims October 8th, 2026: Labor Market Stability Remains Key to Economic Growth

The labor market appears to be maintaining a measure of stability as the broader economy continues to evolve. For businesses and policymakers, that stability remains an important foundation for financial health and long-term economic positioning.

Labor is more than a cost of doing business. A skilled workforce represents a critical form of human capital, providing the expertise and innovation that enable companies to adapt, improve productivity and remain competitive.

The implications extend beyond individual organizations. Strong employment and a capable workforce can reinforce the economic vitality of communities while supporting broader social stability. As economic conditions shift, the ability to develop and maximize human capital will remain central to sustainable growth.

Unemployment Claims October 8th, 2026

• Initial Claims Decrease: For the week ending October 3, 2026, seasonally adjusted initial unemployment claims dropped to 197,000, a decrease of 2,000 from the previous week's revised level of 199,000.

• Moving Average: The 4-week moving average for initial claims fell by 2,500 to 198,000.

• Insured Unemployment: Seasonally adjusted insured unemployment reached 1,716,000 for the week ending September 26, 2026, an increase of 17,000 from the prior week's revised level.

• Unemployment Rate: The seasonally adjusted insured unemployment rate held steady at 1.1%.

• Unadjusted Data Highlights: Actual unadjusted initial claims totaled 170,333 (an increase of 7.6% over the week), compared to 207,124 initial claims during the same week in 2025.

• State Highs & Lows:

  • The highest insured unemployment rates were reported in New Jersey (2.0%), Washington (1.8%), California (1.7%), Massachusetts (1.7%), and Puerto Rico (1.7%).

  • Michigan recorded the largest weekly increase in initial claims (+739), while Hawaii recorded the largest decrease (-1,172).

Employment and Training Administration. (2026, October 8). Unemployment insurance weekly claims (News Release No. USDL 26-1561-NAT). U.S. Department of Labor. https://www.dol.gov/ui/data.pdf

Board of Governors of the Federal Reserve Systes (September 8th, 2026): High Interest Rates, Driven by Nonrevolving Credit

If you look at consumer credit, what we’re seeing is that people are still taking on debt, particularly through non-revolving credit like auto loans, student loans, and personal loans. These types of loans typically have fixed interest rates, which can be more manageable than credit card debt.

Credit cards can carry interest rates around 20% or more, so if you can move that debt to a lower-interest option, it can make a lot of sense. It’s worth talking with your accountant or financial advisor about your options.

Interest rates are high right now, and most consumer debt is held by commercial banks and the federal government, so there aren’t always easy ways around those costs. If you can avoid borrowing at a high rate, though, that may be the better choice.

For example, I recently paid cash for a 2015 car rather than taking out a loan. It wasn’t a new car, but I preferred paying upfront rather than taking on an expensive car loan at today’s interest rates.

Board of Governors of the Federal Reserve System. (2026, September 8)

• Total Debt Growth: Total U.S. consumer credit rose at a 4.2% annual rate in July to reach a record $5.186 trillion, rebounding from slower growth in May and June.

• Driven by Nonrevolving Credit: Nonrevolving debt (auto, student, and personal loans) led the surge, expanding at a 4.8% annual rate to reach $3.829 trillion.

• Credit Card Spending Cooled: Revolving credit (credit cards) slowed significantly to a 2.5% annual growth rate ($1.357 trillion total), down sharply from 6.0% in June.

• Interest Rates Remain High: Borrowing costs stayed near multi-year highs, with credit card APRs averaging 20.94% across all accounts and 22.15% on accounts assessed interest.

• Banks & Government Hold Most Debt: Commercial banks hold 40.8% ($2.094 trillion) of all consumer debt, while the Federal Government holds 31.3% ($1.606 trillion), primarily in student loans.

Board of Governors of the Federal Reserve System. (2026, September 8). Consumer credit - G.19: July 2026. [https://www.federalreserve.gov/releases/g19/current/g19.pdf](https://www.federalreserve.gov/releases/g19/current/g19.pdf)

Attracting Start-Ups Requires More Than Economics

October 7th, 2026

DELTA COUNTY, MI-When communities think about how to attract start-ups and new businesses, the conversation often begins with economics: taxes, incentives, grants, available property, infrastructure, and financing. But attracting businesses involves more than creating favorable financial conditions. It also requires understanding the motivations of the people who start businesses and the environments in which they choose to build them such as like minded entrepreneurs, sense of community, lifestyle, neighborhood aesthetics, etc..

(Illustrative Only)

These two were motivated

to start their business but

also wanted to have a

healthy lifestyle

connected to other entrepreneurs,

community and outdoor recreation.

Escanaba in 

Delta County is 

the place they 

want to launch. 

Delta DA

Delta Chamber

Escanaba DDA

Their personality

and motivations 

are part of the economic

equation that is

often lost in economic

and political discussions.

Economic Growth through Societal Motivation

The Economic System as an Avenue of Needs Fulfillment

Using the Philosophical Principles Conscious, Subconscious, and Intentionality in Management

Consider a downtown district seeking to attract new businesses. Community leaders might ask not only what financial incentives can be offered, but also who the potential entrepreneurs are, what motivates them, what resources they need, and whether they are aware that the community is actively seeking new businesses. The physical location matters, but so does the social and psychological environment surrounding that location.

Entrepreneurship is influenced by more than hard economics and finance. Applied psychology and sociology can help explain the underlying factors that influence why individuals choose to start a business, where they choose to locate, and what conditions encourage them to remain and grow. Understanding these factors can give communities a broader perspective on economic development.

(In this sense, economic development has both an economic side and a social side. My theoretical conception describes this relationship through the ideas of “I,” “ME,” and “WE”. The economic interests of self, socialized self, and shared community and goals.)

The challenge, then, is not simply to ask, “How do we attract businesses?” It is to ask a more fundamental question: “What kind of environment makes people want to start, build, and sustain a business here?” Answering that question requires looking beyond economics alone and considering the human motivations, social networks, resources, and community conditions that shape entrepreneurship. 

The impact of founder personalities on startup success

• The study examined 21,187 startups to investigate whether founders’ personality traits are associated with startup success.

• Researchers analyzed Big Five personality traits across 30 dimensions using information inferred from founders’ public Twitter profiles and connected this data with Crunchbase startup information.

• Successful startup founders were more likely to demonstrate traits such as openness to adventure, a preference for novelty and variety, lower modesty, and higher activity levels.

• The researchers did not identify one single “ideal” founder personality. Instead, they identified six distinct founder personality types, suggesting that different combinations of traits can contribute to success.

• Startups with larger and more personality-diverse founding teams were more likely to succeed, suggesting that complementary personalities may be more valuable than having founders with identical characteristics.

McCarthy, P. X., Gong, X., Braesemann, F., Stephany, F., Rizoiu, M.-A., & Kern, M. L. (2023). The impact of founder personalities on startup success. Scientific Reports, 13, 17200. https://doi.org/10.1038/s41598-023-41980-y

Gladstone City Council Meeting (September 28th, 2026): Environmental Assessent, Election Inspection, Wast Water, DDA Grant Program, Union Contract, MERS and Data Board

 

September 28th, 2026 Gladstone City Council Meeting Agenda

• Call to Order & Roll Call: Mayor Thompson called the meeting to order, followed by an invocation, the Pledge of Allegiance, and roll call.

• Agenda Addition: An item was added to the agenda regarding a letter of support for Delta County Parks (Item 21).

• Consent Agenda: Approved meeting minutes (DDA August 18/September 15, City Commission September 14) and vendor invoices (Chem Trade Chemicals and PK Contracting).

• Tabled Business: The Environmental Assessment Determinations and Compliance Findings (24 CFR 58) were tabled to October 12 while awaiting legal review.

• Gladstone Housing Commission Appointment: Paula Waggy was reappointed to the Housing Commission for a term expiring in October 2031.

• Election Workers Authorization: Authorized the City Clerk to appoint necessary election inspectors for early voting, election day, and absent voter counting for the November general election.

• Wastewater Infrastructure:

  • Change Order #2: Approved a $87,739.28 contract increase for wastewater collection system improvements due to poor soil conditions requiring additional fill and stone bedding.

  • Disbursement #4: Approved disbursement request #4 totaling $330,015.97.

  • Draw #39: Approved plant upgrades disbursement draw #39 totaling $46,650.

• DDA Facade Grant Program Revisions: Approved updated guidelines, effective October 1, 2026, scaling back award caps to $5,000 (75% DDA / 25% applicant match), eliminating property liens, transitioning to a reimbursement model, and offering year-round availability.

• Gladstone Marina Renovation (Phase 2):

  • Awarded the flotation docking systems contract to Flotation Dockage, Inc. for $231,200.

  • Awarded the electrical scope contract to Master Electric for $97,495.

• Union Contract Approval: Approved the collective bargaining agreement with IBEW 876 for electrical linemen, including competitive wage adjustments and incentives to attract/retain experienced linemen.

• MERS Defined Contribution Addendum: Approved the retirement plan adoption agreement addendum for the city manager position to align with other employee contracts.

• DATA Board Reappointment: Reappointed Eric Buckman as the Gladstone representative on the DATA Board of Directors.

• Letter of Support for Delta County Parks: Authorized the City Manager to sign a letter of support for a $3,000 grant application to install Purple Martin birdhouses at OB Fuller and Pioneer Trail parks.

• City Manager Report: Updates provided on completed summer DPW road prep, paving, and sealing projects, as well as ongoing water line repairs.

World Premier Stag Light Play from Players de Noc

I'm not in this play but I do support and am a member of Players De Noc so it is something that should shared. You can support the organization by buying tickets, sharing information, volunteering, or donating. You can contact them directly or if you need assistance send me a message to the right. 

Illustrative Only

Stag Light

October 8, 9 & 10 at 7:30 p.m. | October 11 at 1:30 p.m.
Bay College Besse Theater

The season opens with the world premiere of Stag Light! This heartfelt new play brings the story of the Frenell family to the Upper Peninsula and our stage as they navigate love, grief, and family with plenty of heart and quick wit.

https://playersdenoc.org/

A Stag Light World Premiere Celebration
There are opening nights…and then there are WORLD PREMIERE opening nights.
On Thursday, October 8, make a night of the world premiere of Stag Light with Players de Noc and Freshwater Tavern! Come early for dinner and drinks, meet the playwright, snap a photo with the station wagon, and then head to the Besse Theatre to be among the very first audiences ever to see Stag Light onstage.

YOUR OPENING NIGHT ITINERARY
4–7 PM | FRESHWATER TAVERN
Dinner, apps & Stag Light-inspired drinks available for purchase
5–6:30 PM | Meet playwright Emily Turner + program signing
Get your picture with the Stag Light station wagon
Wear your best nautical-inspired attire
7:30 PM | BESSE THEATRE AT BAY COLLEGE
Take your seat for the WORLD PREMIERE of Stag Light