Michigan’s economic slump breeds interns

The good news about the economic slump here in Michigan is that internships with companies are on the rise. Internships are easy, cheap ways to fill positions and at the same time, develop and sometimes retain young talent. Excerpt: More Michigan companies are offering internships as a cost-effective way to develop new talent and get the job done as they struggle to make payroll and are forced to cut staff amid the lingering recession, experts say. The national unemployment rate is 10 percent; in Michigan it is still stuck at about 15 percent. The competition between laid-off workers and students and recent graduates makes it tougher to land jobs, experts said. “Given the pressure, undoubtedly there are companies that have cut back and are using interns to supplement some gaps because of cuts in new hiring,” said John Challenger, a workplace expert at Chicago-based Challenger, Gray and Christmas. Internships are also a good way for students to “audition” for a job, Challenger said. Read the entire article here.