The State of Michigan Income Charts

This section shows the Michigan economy using the most recent economic analysis from the 2022 Census Bureau. Starting with Figure 1 which shows the median earnings per worker, Michigan depicts it has a Median earnings of $52,738 which is the second most of all the states in the local area. The state with the highest median earnings per worker in the group is Illinois which shows a median earnings of $56,393 (6.9% larger).

In Figure 2 a more complete view of income is shown which aggregates income from all members in the household and it has a Median household income of $63,202 which is the third most of all other states in the greater region. The state with the highest median household income in the group is Illinois which shows a median income of $72,563 (14.8% larger).

The next section examines a variety of different income statistics for the Michigan metropolitan area. In Figure 3 we see that it it has the largest proportion of earnings less than $10,000 at 6.8% of the total and is ranked #1. Second, it has the largest proportion of earnings between $10,000 and $14,999 at 5.9% of the total and is ranked #1. Third, it has the smallest proportion of earnings between $20,000 and $49,999 at 20.5% of the total. Dividing median annual worker earnings by the average number of hours worked in a year in Figure 4 shows that it has a Avg Hrly Earnings of $26.48 which is the second most of all the states in the metro area. The state with the highest average hourly earnings in the group is Illinois which depicts an average hourly earnings of $28.10 (6.1% larger).

Figure 5 examines the number of self employed people in the Michigan metro area based on the number of people who reported any self employment income. Michigan depicts it has a Self Employed of 9.4% which is the second most of all the states in the surrounding region. The state with the highest percentage of people self employed in the group is Wisconsin which depicts a percentage self employed of 9.9% (only about 4.9% larger).

Figure 6 breaks down the source of income and Michigan has the largest proportion of self employment income at 14.0% of the total and is ranked #1. Second, it has the largest proportion of investment and retirement income at 8.9% of the total and is ranked #1.

The next chart (Figure 7) shows the percentage of households that had retirement income over the last 12 months and it has a With Retirement Income of 26.0% which is more than all other states in the local area.

The percentage of full-time workers are compared to the number of part-time workers in Figure 8. Michigan shows full time employees approximately 3.1 times bigger as the part time employees.

Similar to the last chart is Figure 9 which shows the number of people who are self employed but in more detailed industry categories such as manufacturing, retail sales, residential real estate, commercial real estate, health care, exports/imports, and advanced industries, etc. the state of depicts it has the hightest entrepreneurs of 21% for the self employed in professional, scientific, management, administrative services group.

Figure 10 shows the cost of living and other consumer spending categories for a variety of cost components from the Bureau of Labor Statistics. Michigan depicts it has the hightest cost of 118.6 for the cost of utilities group.

The State of Michigan Poverty Charts

In Figure 11 the percentage of people earning less than the poverty level is shown and compared across the group of places. Michigan shows it has a Percent of Population In Poverty of 13.3% which is the second most of all the states in the area. The state with the highest percent of people earning less than the poverty level in the group is Ohio which depicts a percent of people in poverty of 13.4% ( about the same size). Additionally, Figure 12 looks at the percentage of people who receive some form of public assistance including general assistance, temporary assistance or food stamps (i.e. SNAP.) the state of depicts it has a Public Assistance Percent of 13.5% which is the most of all states in the greater Michigan region.

The State of Michigan Labor Force Charts

The table in Figure 13, shows Michigan employment data in terms of job categories and salary data.

The next two charts look at monthly trended employment related performance using data estimated by economists at the Bureau of Labor Statistics (BLS). The BLS tracks unemployment statistics for a large number of areas throughout the country on a month to month basis. However, not every location in the U.S. is tracked by the BLS so the chart will only show the closest location available (which may be the same location.) Figure 14 shows the monthly unemployment rate for the area as well as a comparison to the overall national economy measure for the United States. Note that in March to April 2022, the Covid 19 recession occurred and affects this metric. The monthly unemployment rate depicts that from January 2017 to before the disasterous Covid-19 virus Pandemic it went from 5.5% to 4.8% in March 2020. This represents a decrease in the monthly unemployment rate of 12.7%. Since that time, the monthly unemployment rate has gone to 4.1%. This represents a decrease in the monthly unemployment rate of 14.6%.

The State of Michigan Jobs Charts

In the jobs section of economic activity charts in Figure 15 shows the average annual earnings for very high level job industry categories for full time and year round employed.

Figure 16 shows the average median earnings for different categories of jobs.

The State of Michigan Work Commute Charts

Figure 18 shows a more detailed view of how the population commutes to work for (for example to downtown Michigan or elsewhere.) Michigan has the largest proportion of people who take the ferry at 0% of the total and is ranked #1. Second, it has the smallest proportion of people who took a taxicab, motorcycle or other at 1% of the total.

Figure 19 is provided for comparison purposes to the previous chart. It shows how people get to work overall on average in the United States.

The average commute time is shown in Figure 21. the state of depicts it has a Avg Commute Time of 25 which is the second most average commute time of all the states in the greater Michigan region.