How Detroit Is Making A Phenomenal Comeback In The Job Market? Paychex CEO Explains

Most people had written Detroit off when the auto majors left the city and it declared bankruptcy. However, we at Benzinga had full faith in the city's spirit to bounce back and it seems that faith is working out. Marty Mucci, Paychex, Inc.

CEO, was recently on CNBC to discuss how Detroit is bouncing back in the job market and why wages growth is still not optimal. Detroit: Bouncing Back "The strength is still in the central part, the regions in the central part of the U.S. are seeing still the best job growth," Mucci said. "And again from a region perspective, central, but pacific is starting to pick up, you are starting to see California." He Continued, "I think California more jobs than Texas for the first time in a few years now and also from a major city perspective Detroit has moved now into the top 4 , Dallas is still leading, but Detroit into Top 4, which is very interesting. I think some hi-tech and some other jobs are coming into the Detroit area now, so interesting pickup there." Wage: A Sad Story Mucci was asked if he can tell from the data if the jobs being created ‘are good jobs'. He replied, "Yeah, I think they are pretty good jobs. We are seeing manufacturing come back. Education and health services have still been strong, the wage is probably a little bit sadder story." "It's still around 2 percent, it hasn't changed much on an annual wage increase and part time is slipping a little bit from a percentage standpoint of the jobs that are not large, but some. So, we are going to watch that pretty close, but generally I think this is good news," Paychex concluded.