Quarterly Economic Indicator Report Metric
Baseline
Latest
Trend
1.4%
(2019:Q3-2019:Q4)
1.7%
(2022:Q4-2023:Q1)
MI 2023 Q2 GDP not release yet, due to BLS Comprehensive Update in progress.
1.9%
(2019:Q3-2019:Q4)
2.1%
(2023:Q1-2023:Q2)
Fourth consecutive quarter over quarter growth of over 2 percent.
2.13M
(Feb. 2020)
2.15M
(Aug. 2023)
Second consecutive monthly decrease in August 2023. 24,000 fewer jobs in Region than same month in 2019.
Avg. Weekly Wage, Detroit MSA
$1,245
$1,460
Wages up 8% Q1 2023 compared to Q1 2022. (private, all establishments, all industries)
Labor Force Participation Rate, Michigan
61.6%
(Feb. 2020)
61.3%
(Aug. 2023)
Highest level since July 2020. Increasing since Q1 2023.
3.7%
4.1%
(Aug. 2023)
Monthly increases since April 2023. Highest level since January 2023.
3.8%
Rate below 4.0% since Feb. 2022.
GDP, MI GDP, US Private Sector Jobs, Detroit Region
Unemployment, Detroit MSA Unemployment, US Job Postings, Detroit Region
(Q4 2019)
(Feb. 2020)
3.8%
(Q1 2023)
(Feb. 2020)
(Sept. 2023)
160,450
126,369
(Feb. 2020)
(Sep. 2023)
80K fewer jobs posting over September 2022, a 39% decrease.
Release Date: October 2023
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