New report shows 2023 had highest state job numbers in 20 years

LANSING, Mich. -- Today, the Michigan Center for Data and Analytics released its 2023 Michigan Economic Analysis Report. The report, which is produced each year, provides an in-depth review of the state's labor market and wages, as well as employment and population outlooks.

Overall, Michigan's labor market continued to improve in 2023, surpassing 2019 levels for most major labor market indicators. Key highlights from the report include the following.

• Annual average data for 2023 showed that Michigan had its highest payroll job level and lowest unemployment rate in more than 20 years.
• Both total employment and total workforce levels reached 15-year highs during 2023, while the number of unemployed reached a low last seen in 2000.
• Jobless rates for white and Black workforce participants fell to five-year lows during 2023.
• Private education and health services is projected to add 50,000 jobs, the largest major industry increase.

“Michigan's labor market hit historic levels in 2023 and continued to improve in the first six months of 2024. The state's unemployment rate was low for multiple demographic groups, while the number of jobs and labor force continued to expand," said Scott Powell, chief data officer and director of the Michigan Center for Data and Analytics. “Looking forward, our recent projections indicate that any growth in the coming years will require more people moving into Michigan."

This report highlights data for 2023 and the first half of 2024. Initial data through June 2024 indicate continued growth at a more moderate pace.

A full copy of the report is available online.  

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