Overall unemployment rate moved up to 3.7% with the biggest shift in Business Services, which lost 2,900 roles, based on the most recently available information published in March 2022.
Total employment in the Grand Rapids-Wyoming, MI market declined by 1,487 jobs in January and the unemployment rate increased compared to the prior month by 20 bps to 3.7%. The national unemployment rate increased by 74 bps over the same time to 4.4%.
- Grand Rapids-Wyoming, MI unemployment rate is 73 bps below the national rate which is a positive sign.
- Unemployment in the market is 180 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in January versus prior month by 9.4% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs declined by -1.9%. Key sectors include:
- Manufacturing: 110,200; -400
- Transportation & Utilities: 98,800; -2,700
- Education & Healthcare: 93,000; -1,400
- Business Services: 71,300; -2,900
- Government: 47,500; -500
- Restaurants & Hotels: 43,200; -1,200
- Financial Services: 26,800; -200
- Construction, Mining: 24,900; -1,000
- Other Jobs: 22,000; no change
- IT & Development: 6,200; -100
Data is based on the most recent 12 months available, through January 2022 (Data published March 2022 and reports created on March 18, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.