Detroit Metropolitan Area
Detroit employment growth is expected to trail that of the state, but not by much. Here, we anticipate overall employment growth of 0.7 percent in 2019. Mining, logging and construction is the strongest sector, followed by leisure and hospitality services. As both of GM’s announced Michigan plant closings are in the Detroit metropolitan area, we anticipate the labor market for manufacturing employment to be weakened in 2019. While durable goods manufacturing dominates the Detroit manufacturing labor market, gains in non-durable manufacturing employment is expected to absorb much of this sectors job losses. Employment dynamics suggest that Detroit’s 2019 unemployment rate will largely be unchanged from 2018.
Personal income and wage growth in Detroit is expected to trail the state in 2019. Personal income growth is expected to be around 2.8 percent in 2019, while wage growth is expected to be 2.7 percent. Both exhibit income growth that is expected to exceed inflation.
Updated December 19, 2018