Michigan Economic Overview
Key economic indicators for Michigan (MI). Population: 10,077,331.
Unemployment Rate
3.8%
Below national avg (~4.2%)
Median Annual Wage
$54,000
Source: Census ACS / BLS
Wage Growth (YoY)
+2.8%
Year-over-year change
Population
10.1M
Source: 2020 Census
About the Michigan Economy
Michigan has an unemployment rate of 3.8%, which is below the national average. The median annual wage is $54,000, with wages growing at 2.8% year-over-year. With a population of 10,077,331, Michigan is the one of the largest state economy in the U.S.