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 median earnings of all the states in the greater Michigan region. The state with the highest median earnings per worker in the group is Illinois which depicts 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 median income of all other states in the greater Michigan 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.

Figure 5 has the Average number of hours worked in a typical work week during the year, it has a Avg Hours Worked of 38.3 which is less than most other states in the metropolitan area. The state with the highest average hours in the group is Indiana which depicts an average hours of 38.8 ( only slightly larger). Dividing median annual worker earnings by the average number of hours worked in a year in Figure 6 shows that it has a Avg Hrly Earnings of $26.48 which is the second most of all the states in the 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 7 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 shows it has a Self Employed of 9.4% which is the second most of all the states in the greater 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).

Turning our attention to Figure 8, the median household income by age group, it has one of the largest proportions of median income-under 25 years at $70,251 of the total and is ranked #3. Only #2 Wisconsin ($75,932), and #1 Illinois ($80,059) are larger. Second, it has one of the largest proportions of median income-25 to 44 years at $76,804 of the total and is ranked #3. Only #2 Wisconsin ($81,802), and #1 Illinois ($87,986) are larger. Third, it has one of the largest proportions of median income-45 to 64 years at $48,046 of the total and is ranked #3. Only #2 Wisconsin ($48,793), and #1 Illinois ($51,237) are larger.

Figure 9 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 11) 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 at the top of all other states in the greater Michigan region.

In the next chart, Figure 12, the median family income is shown for families broken down by racial group and it has one of the largest proportions of overall family income at $84,768 of the total and is ranked #3. Only #2 Wisconsin ($89,589), and #1 Illinois ($100,020) are larger. Second, it has one of the largest proportions of white family income at $49,461 of the total and is ranked #2. The only larger state being Illinois with $55,030. Third, it has one of the largest proportions of black family income at $56,314 of the total and is ranked #3. Only #2 Indiana ($64,346), and #1 Illinois ($68,794) are larger. Also, it has one of the largest proportions of american indian family income at $113,359 of the total and is ranked #2. The only larger state being Illinois with $115,615. In addition, it has the smallest proportion of asian family income at $62,679 of the total. Furthermore, it has one of the largest proportions of hawaiian family income at $62,651 of the total and is ranked #2. The only larger state being Illinois with $67,841.

Figure 13 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 grouping.

The State of Michigan Labor Force Charts

The next two charts look at very recent, 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 2020, the Covid 19 recession or great recession occurred and affects this metric. . It depicts that from January 2010 to before the Wuhan Coronavirus Pandemic the monthly unemployment rate went from 14.4% to 4.9% in March 2020. This represents a decrease in the monthly unemployment rate of 66.0%. Since that time, the monthly unemployment rate has gone to 3.7% This represents a decrease in the monthly unemployment rate of 24.5%. In Figure 15 the monthly labor force participation which are people actively looking for work are also defined as unemployed but do not include people who have given up looking for work. . It shows that from February 2010 to before the Wuhan Coronavirus Pandemic the monthly labor force participation went from 4,822,935 to 4,930,210 in January 2020. This represents an increase in the monthly labor force participation of 2.2%. Since that time, the monthly labor force participation has gone to 4,867,566 This represents a decrease in the monthly labor force participation of very little.

The next two charts look at the annual unemployment rate/eligible for unemployment benefits and is based on the American Community survey. Figure 16 shows Michigan shows it has a Unemployment Rate of 3.8% which is the second most unemployment rate of all the states in the greater Michigan region. The state with the highest unemployment rate in the group is Illinois which depicts a rate of 4.0% (only about 5.3% larger). Figure 17 shows the labor force participation using the estimated percentage of people either working or actively looking for work. the state of depicts it has a Labor Force Participation of 61.5% which is less than most other states in the metropolitan area.

The Components of Employment Status graph in Figure 18 shows the composition of the labor force broken down by employed, unemployed, and not in the labor force (but 16 years of age or older). Michigan has the largest proportion of unemployed at 38.5% of the total and is ranked #1.

The percentage of full-time workers are compared to the number of part-time workers in Figure 19. Michigan shows full time employees approximately 3.1 times bigger as the part time employees.

The next employment related data item is shown in Figure 21 which is the percentage of families with only a single earner in the greater Michigan area. Michigan depicts it has a Single Earner Families of 27.6% which is the second most families with a single earner of all the states in the greater Michigan region. The state with the highest families with a single earner in the group is Illinois which depicts a single earners rate of 27.6% ( about the same size). The percentage of families with no one working is depicted in Figure 22. Michigan depicts it has a Families with No One Working of 19.7% which is the largest of all states in the metro area.

The State of Michigan Poverty Charts

The next section details economy analysis about poverty for residents of the Michigan community. This performance can be enhanced by government programs such as economic opportunity zone to influence manufacturing, job growth, economic opportunity an hopefully lead to economic recovery after the recent Covid 19 recession. In Figure 23 the total number of people earning less than the poverty level are shown. Michigan depicts it has a Total In Poverty of 1,310,058 which is the third most total people earning less than the poverty level of all other states in the greater Michigan region. The state with the highest total people earning less than the poverty level in the group is Ohio which depicts a total people earning less than the poverty level of 1,528,963 (16.7% larger).

In Figure 24 the percentage of people earning less than the poverty level is shown and compared across the group of places. Michigan depicts it has a Percent of Population In Poverty of 13.3% which is the second most percent of people earning less than the poverty level of all the states in the greater Michigan region. The state with the highest percent of people earning less than the poverty level in the group is Ohio which shows a percent of people in poverty of 13.4% ( about the same size).

Figure 27 shows key poverty statistics for groups based on marriage status. Michigan has the largest proportion of unmarried female with children and in poverty at 23% of the total and is ranked #1.

The next chart looks at the percentage of people in poverty based on their education level in Figure 28 marriage status. Michigan has the largest proportion of less than highschool in poverty at 14% of the total and is ranked #1. Additionally, Figure 30 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 more than all other states in the greater Michigan region.

Figure 31 shows the "Gini Index of Income Inequality" with a range from zero (perfect equality) to one (perfect inequality). the state of shows it has a Gini Index of 46.4% which is the third most the gini index of all other states in the greater Michigan region.

The State of Michigan Work Commute Charts

Figure 33 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.

In Figure 35 is shown a frequency distribution of the time that people leave for work. Michigan has the smallest proportion of people who leave for work between 530 am to 6am at 8% of the total. Second, it has the smallest proportion of people who leave for work between 6am to 630am at 9% of the total. Third, it has the smallest proportion of people who leave for work between 630 am to 7am at 13% of the total. Also, it has the largest proportion of people who leave for work between 8am to 830am at 6% of the total and is ranked #1. In addition, it has the largest proportion of people who leave for work between 830 am to 9am at 6% of the total and is ranked #1. Furthermore, it has the largest proportion of people who leave for work between 9am to 10am at 3% of the total and is ranked #1. Next it has the largest proportion of people who leave for work between 10am to 11am at 1% of the total and is ranked #1. Additionally, it has the largest proportion of people who leave for work between 11am to 12noon at 8% of the total and is ranked #1.

The average commute time is shown in Figure 37. 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. Figure 38 shows the difference between male versus female commuting time. Michigan shows average commute time in minutes for men 29.5% larger as the average commute time in minutes for women. Figure 41 shows the percentage of people who both work and live in the same city (town or place.) the state of shows it has a Work in city or place where live of 33% which is less than most other states in the local area. The state with the highest people who both work and live in the same city in the group is Indiana which depicts a people who both work and live in the same city of 49% (49.1% larger).

The State of Michigan Jobs Charts

The next to charts break out the median earnings for major job categories for men and women. Figure 46 shows the median earnings of men for the job categories. the state of shows it has the hightest median earnings of $89,419 for the earnings-computer, engineering, and science occupations grouping. Similarly, Figure 47 shows the median earnings of women for the job categories and the state of depicts it has the hightest median earnings of $75,111 for the earnings-computer, engineering, and science occupations classification. The table in Figure 48, shows Michigan employment data in terms of job categories and salary data.

The State of Michigan Self Employment Charts

Figure 49 shows economic activity in terms of the number of people who are self employed in incorporated local business by industry. the state of depicts it has the hightest entrepreneurs of 49% for the self employed management, business, science, and arts businesses group.

Similar to the last chart is Figure 50 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 shows it has the hightest entrepreneurs of 21% for the self employed in professional, scientific, management, administrative services grouping.

In Figure 51 the average annual self employment/entrepreneur income is shown. the state of depicts it has a Self Employment Income of $35,267 which is in the middle range of other states in the surrounding region. The state with the highest average annual self employment income in the group is Illinois which depicts an average annual self employment income of $41,211 (16.9% larger).

Figure 52 shows the difference between the number of self employed men and self employed women (i.e. entrepreneurs.) Michigan depicts total number of self-employed men 74.3% larger as the total number of self-employed women.