States · Michigan

Michigan Economy — Live Data

Michigan sits in the Midwest, with an economy built around automotive, advanced manufacturing, and agriculture. The state's unemployment rate is 5.1% — above the national rate of 4.2%. Every number on this page pulls live from federal statistical sources.

Unemployment Rate
5.1%
▲ Above US average (4.2%)
Nonfarm Jobs
4.49M
▼ -0.2% jobs YoY
House Prices (YoY)
+5.0%
▲ Rising fast
Per-Capita Income
$67K
▲ +4.1% vs prior year
Michigan vs. United States — Unemployment
Michigan
5.1%
United States
4.2%

Michigan is running above the national unemployment rate. At 5.1% vs 4.2% nationally, local job seekers face a somewhat tougher market than the US average.

Jobs & Output
Nonfarm payrolls
4.49M
Job growth (YoY)
-0.2%
Real GDP (2025)
$569B
GDP growth (YoY)
+1.2%

Payrolls are monthly (BLS); GDP and income are annual (BEA). Key sectors in Michigan: automotive, advanced manufacturing, and agriculture.

What this means if you live or work in Michigan
💼
Job market
With unemployment at or above the national average, hiring in Michigan is more employer-friendly — job seekers should expect more competition per opening.
🏠
Housing
House prices are rising fast (+5.0% YoY). Buyers face affordability pressure; owners are building equity quickly.
💵
Income
Per-capita personal income in Michigan is $66,556, up 4.1% from the prior year. Compare against national inflation to gauge real purchasing power.
🏭
Key industries
Michigan's economy leans on automotive, advanced manufacturing, and agriculture — sector-specific national trends (energy prices, rates, consumer spending) hit this state through those channels first.
Key Numbers — Michigan
Unemployment5.1%
US unemployment4.2%
Nonfarm jobs4.49M
House prices YoY+5.0%
Per-capita income$66,556
Real GDP$569B
Labor data as ofMay 2026
Nearby States
Ohio economy → Indiana economy → Wisconsin economy → Illinois economy → All 50 states →
National Data
US labor market → US housing data → US inflation → Full dashboard →

Data: FRED (Federal Reserve Bank of St. Louis) — series MIUR, MINA, MISTHPI, MIPCPI, MIRGSP — plus BLS and BEA. Live values load on page open; figures shown are the most recent official releases. Not financial advice.