Metric2020Q1BaselineLatestTrend GDP,MI 1.4 (2019:Q3-2019:Q4) 0.1 (2021:Q4-2022:Q1) MI2022Q1outpacednation, noincreasefrompreviousquarter GDP,US 1.9 (2019:Q3-2019:Q4) -1.6 (2021:Q4-2022:Q1) Firstnegativefrompreviousquartersince2020Q2 PayrollJobs,MI 4.4M (Feb.2020) 4.3M (May2022) Down141K,or-3%,comparedtoFeb2020 Avg.WeeklyWage,DetroitMSA $1,245 (Q42019) $1,432 (Q42021) Wagesup15%fromthesamequarterin2019 (private,allestablishments,allindustries) LaborForce,DetroitMSA 2.15M (Feb.2020) 2.10M (May2022) Laborforce50,000belowprepandemiclevel Unemployment,DetroitMSA 3.7% (Feb.2020) 4.9% (May2022) Below5.0%sinceFeb.2022 Unemployment,US 3.8% (Feb.2020) 3.4% (May2022) Below4.0%sinceFeb.2022 JobPostings,DetroitRegion 170,773 (Feb.2020) 242,948 (Jun.2022) Downfrom250KinMay2022,yet50%morepostings thaninthesamemonthin2019 QuarterlyEconomicIndicatorReport 1ReleaseDate:July2022
QuarterlyEconomicIndicatorReport
Metric2020Q1BaselineLatestTrend BusinessApplications,MI 22,638 (Q12020) 33,830 (Q12022) Quarterlylevelsremain49%abovepre-pandemiclevels ConsumerPriceIndex,DetroitMSA 2.6 (Feb.2020) 8.3 (Apr.2022) Servicesup5.3%,comparedtocommoditiesup13.3% overthelast12months.Itemswithhighestincrease includeusedcarsandtrucks(22%),pipedgasservice (23%),gasoline(42%) ConsumerSentiment,US 101.0 (Feb.2020) 58.4 (May2022) Lowestlevelsince2011, downfrom70.6inDecember2021 HomePrices,DetroitMSA 129.7 (Feb.2020) 171.0 (Apr.2022) Nationalindexreached300.8inApril2022 Nationup41%sinceFeb.2020,andDetroitMSAup32% AirTravel,National 410M (Jan-Jun.2019) 356M (Jan-Jun.2022) 2022morecloselytracking2019levelsYTD, down13%YTDfromsameperiodin2019 AirTravel,DTW 2.6M (Feb.2020) 2.56M (Jun.2022) Down23%inJun.2022 comparedtosamemonthin2019 AutomotiveSales,US,SAAR 16.9M (Feb.2020) 13.0M (Jun.2022) Droppedfrom15.0inJanuary2022 AutomotiveSales,US,Monthly 1.2M (Feb.2020) 1.1M (Jun.2022) MayandJunelevelsof1.1Meach,downfrom1.2Min MarchandApril.Down25%fromJun.2019level. ManufacturingPMI® 50.1 (Feb.2020) 53.0 (Jun.2022) Below60percentsinceNovember2021,despite expansionintheoveralleconomyforthe25thmonthina row.LowestreadingsinceJune2020.
2ReleaseDate:July2022
RealGDPGrowth Percentchangefromprecedingquarter 3ReleaseDate:July2022 1.9 -5.1 -31.2 33.8 4.56.36.72.36.9 -1.6 2.3 -3.4 5.71.4 -9.9 -32.3 39.8 5.02.8 8.3 -0.3 5.8 0.1 -0.1 -4.6 6.2 -40 -30 -20 -10 0 10 20 30 40 50 2019Q42020Q12020Q22020Q32020Q42021Q12021Q22021Q32021Q42022Q1201920202021 UnitedStatesMichigan RealGDP Percentchangefromprecedingperiod Source:BureauofEconomicAnalysis
PayrollJobs
4ReleaseDate:July2022 4,416,400 3,399,400 4,311,500 3,000,000 3,500,000 4,000,000 4,500,000 5,000,000 Source:BureauofLaborMarketInformation,CurrentEmploymnetStatistics(CES)
Michigan
5ReleaseDate:July2022 $1,245 $1,395 $1,432 $$200 $400 $600 $800 $1,000 $1,200 $1,400 $1,600 Q12019Q22019Q32019Q42019Q12020Q22020Q32020Q42020Q12021Q22021Q32021Q42021 AverageWeeklyWage Private,Allindustries,Allestablishmentsizes DetroitMSA Source:U.S.BureauofLaborStatistics
6ReleaseDate:July2022 2,150.9 1,911.8 2,063.7 2,147.8 2,100.4 1,800 1,900 2,000 2,100 2,200 In Thousands Source:U.S.BureauofLaborStatistics LaborForce DetroitMSA
7ReleaseDate:July2022 62% 60% 63% 62% 54% 55% 56% 57% 58% 59% 60% 61% 62% 63% 64% Jan-19Mar-19May-19Jul-19Sep-19Nov-19Jan-20Mar-20May-20Jul-20Sep-20Nov-20Jan-21Mar-21May-21Jul-21Sep-21Nov-21Jan-22Mar-22May-22 Year over year Michigan UnitedStates LaborForceParticipationRate Source:BureauofEconomicAnalysis
8ReleaseDate:July2022 MonthlyUnemploymentRate DetroitMSAandUnitedStates 3.8% 14.4% 3.4%3.8% 3.7% 24.0% 4.9% 0% 5% 10% 15% 20% 25% 30% UnitedStatesDetroitMSA MonthlyUnemploymentRate DetroitMSAandUnitedStates
9ReleaseDate:July2022 38.7% 26.2% 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 30.0% 35.0% 40.0% 45.0% Source:BureauofLaborStatistics Note:Seasonallyadjusted ShareofUnemployedfor27+Weeks Michigan
ReleaseDate:July202210 135,940 184,722 242,948 100,000 120,000 140,000 160,000 180,000 200,000 220,000 240,000 260,000 Jan 2020 Feb 2020 Mar 2020 Apr 2020 May 2020 Jun 2020 Jul 2020 Aug 2020 Sep 2020 Oct 2020 Nov 2020 Dec 2020 Jan 2021 Feb 2021 Mar 2021 Apr 2021 May 2021 Jun 2021 Jul 2021 Aug 2021 Sep 2021 Oct 2021 Nov 2021 Dec 2021 Jan 2022 Feb 2022 Mar 2022 Apr 2022 May 2022 Jun 2022 Unique Postings Source:BureauofLaborStatistics JobPostings DetroitRegion
11ReleaseDate:July2022 24,370 51,655 39,851 33,830 0 10,000 20,000 30,000 40,000 50,000 60,000 Q4-2019Q1-2020Q2-2020Q3-2020Q4-2020Q1-2021Q2-2021Q3-2021Q4-2021Q1-2022 BusinessApplications Michigan Source:U.S.CensusBureau Note:Seasonallyadjusted
12ReleaseDate:July2022 8.3% 6.3% -2.0% 0.0% 2.0% 4.0% 6.0% 8.0% 10.0% Feb-20Apr-20Jun-20Aug-20Oct-20Dec-20Feb-21Apr-21Jun-21Aug-21Oct-21Dec-21Feb-22Apr-22 Year over year AllitemsCore(Allitemslessfoodandenergy) ConsumerPriceIndex DetroitMSA Source:BureauofEconomicAnalysis
13ReleaseDate:July2022 217.3 249.9 300.8 130.5 148.3 171.0 100 150 200 250 300 UnitedStatesDetroitMSA Source:S&PDowJonesIndicesLLC S&P/Case-ShillerHomePriceIndex
14ReleaseDate:July202210,000,000 20,000,000 30,000,000 40,000,000 50,000,000 60,000,000 70,000,000 80,000,000 90,000,000 JanFebMarAprMayJunJulAugSepOctNovDec 2022 AirportTravelerThroughput UnitedStates AnnualTotal 2019840K 2020322K 2021580K 2019 2021 2020 Source:TSA
2,386,921 2,627,676 1,094,268 1,776,161 0 500,000 1,000,000 1,500,000 2,000,000 2,500,000 3,000,000 3,500,000 4,000,000 JanFebMarAprMayJunJulAugSeptOctNovDec Source:WayneCountyAirportAuthority 13.5M 2022YTD DetroitMetropolitanAirportTotalPassengers DetroitMetropolitanAirportTotalPassengers 36.2M 2019Total 23.6M 2021Total 14.1M 2020Total 15ReleaseDate:July2022
16ReleaseDate:July2022 16.9 8.6 18.3 13.0 0.0 2.0 4.0 6.0 8.0 10.0 12.0 14.0 16.0 18.0 20.0 Millions of Unis AnnualU.S.LightVehicleSales SeasonallyAdjustedAnnualRate(SAAR) Source:BureauofEconomicAnalysis
17ReleaseDate:July2022 700 800 900 1,000 1,100 1,200 1,300 1,400 1,500 1,600 1,700 JanFebMarAprMayJunJulAugSeptOctNovDec Thousands of Units MonthlyLightVehicleSales UnitedStates Source:U.S.BureauofEconomicAnalysis Note:Notseasonallyadjusted 2019 2021 2020 AnnualTotal 201916.9M 202014.5M 202114.9M 2022
18ReleaseDate:July2022 50.9 41.5 64.7 53.0 35 40 45 50 55 60 65 70 ManufacturingPMI® PurchasingManager'sIndex Source:InstitueForSupplyManagment
Source:MDHHS 19 COVID-19VaccineCoverage Michigan,5yearsofageandolder AsofJuly8,2022 Source:StateofMichiganCOVID-19VaccineDashboard 6,258,821 ResidentsVaccinated 66.4% Coverage %ofResidentsVaccinated Initiation/OneDose 9,420,414 MichiganPopulation ReleaseDate:July2022
20ReleaseDate:July2022 29% 49% 56%55% 66%67% 77% 90% 87% 26% 46% 51%49% 59% 62% 72% 84% 80% 34% 45% 42% 48% 54% 65% 78%77% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% 5-11years12-15years16-19years20-29years30-39years40-49years50-64years65-74years75+years InitiationCoverageCompletionCoverageBoostedCoverage(FullVaccinatedPopulationEligibleforBooster) VaccineCoveragebyAge Michigan,AsofJuly6,2022 Source:MichiganDepartmentofHealthandHumanServices
ReleaseDate:July202221 56.7% 45.7% 66.9% 59.8% 64.2% 53.4% 41.4% 61.4% 55.4% 55.9% 0% 10% 20% 30% 40% 50% 60% 70% 80% White(NH)Black(NH)Asian/NativeHawaiian/Other PacificIslander(NH) AmericanIndian/AlaskaNative (NH) Hispanic InitiationCoverageCompletionCoverage VaccineCoveragebyRaceandEthnicity Michigan,asofJuly6,2022 5yearsandolder Source:MichiganDepartmentofHealthandHumanServices NH=Non-Hispanic