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The Detroit Warren Dearborn MSA has had a strong economic recovery since the pandemic. In fact, as of May 2023, seasonally adjusted unemployment was below pre-pandemic levels at 3.2%. Amid the pandemic, the monthly unemployment rate in the MSA peaked at 23.3%, nearly 10 points higher than the national rate. However, over the last five years, the MSA has seen unemployment rates mostly like the US, outside of the period during the pandemic. As of July 2024, the seasonally adjusted unemployment rate has begun to rise slightly to 4.5%.
GRP increased more than $22.1 million (7.8%) from 2021 to 2022, a greater increase than the year before. Overall GRP exceeded $305 million in 2022. The MSA has seen GRP growth in every year from 2012 to 2022, except 2020. Positive GRP growth of 8.0% and 7.8% in each of the last two years signals an overall healthy economy going forward.
The Detroit Region’s population is 5,429,952 as of 2023. Wayne County at 1,751,169, comprises 32.3% of the regional total which is not surprising, given it is the region’s hub. Wayne, Oakland, and Macomb Counties host 71.8% of the region’s population. The counties with the lowest populations include Shiawassee (68,025), Lapeer (88,977), and Lenawee (97,520).
