Overall unemployment rate moved down to 3.1% with the biggest shift in Business Services, which gained 2,800 roles, based on the most recently available information published in December 2022.
Total employment in the Grand Rapids-Wyoming, MI market declined by 5,252 jobs in October and the unemployment rate decreased compared to the prior month by 10 bps to 3.1%. The national unemployment rate increased by 8 bps over the same time to 3.4%.
- Grand Rapids-Wyoming, MI unemployment rate is 30 bps below the national rate which is a positive sign.
- Unemployment in the market is 20 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in October versus prior month by 6.6% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 0.6% . Key sectors include:
- Manufacturing: 113,600; -100
- Transportation & Utilities: 100,500; -600
- Education & Healthcare: 96,200; +1,700
- Business Services: 79,500; +2,800
- Government: 49,100; +800
- Restaurants & Hotels: 47,800; -700
- Financial Services: 27,900; -100
- Construction, Mining: 27,700; -500
- Other Jobs: 22,600; -100
Data is based on the most recent 12 months available, through October 2022 (Data published December 2022 and reports created on December 2, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.