Overall unemployment rate moved up to 3.4% with the biggest shift in Restaurants & Hotels, which gained 2,100 roles, based on the most recently available information published in June 2022.
Total employment in the Grand Rapids-Wyoming, MI market rose by 10,734 jobs in May and the unemployment rate increased compared to the prior month by 30 bps to 3.4%. The national unemployment rate increased by 4 bps over the same time to 3.4%.
- Grand Rapids-Wyoming, MI unemployment rate is 2 bps above the national rate which is a negative sign.
- Unemployment in the market is 170 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in May versus prior month by 7.2% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 1.0% . Key sectors include:
- Manufacturing: 110,600; -700
- Transportation & Utilities: 102,600; +1,900
- Education & Healthcare: 94,400; -200
- Business Services: 74,900; +1,800
- Restaurants & Hotels: 47,200; +2,100
- Government: 46,900; -1,200
- Financial Services: 27,700; +500
- Construction, Mining: 27,300; +600
- Other Jobs: 22,500; +500
- IT & Development: 6,400; +100
Data is based on the most recent 12 months available, through May 2022 (Data published June 2022 and reports created on June 29, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.