In August of 2019 the unemployment rate for the State of Michigan was 4.2, a small decrease from the July unemployment rate of 4.3, according to the most recent data provided by the Michigan Department of Technology, Management and Budget. The State unemployment rate for August of 2018 was 0.3 points lower than what it was in August of 2019 (4.2).
The Detroit rate was 1.8 points lower in August of 2019 from the previous month. Also, the August 2019 unemployment rate for Detroit was 0.6 points lower from the previous year. In August of 2019 Detroit’s unemployment rate was 9.3 percent and in August of 2018 it was 9.9 percent.
The chart above displays the unemployment rates for each of the seven counties in Southeastern Michigan for August of 2018 and 2019. In August of 2019 Wayne County had the highest unemployment rate at 5.4. Washtenaw County had the lowest unemployment rate at 3.3.
Wayne and Monroe counties were the only two to have lower unemployment rates in August of 2019 compared to August of 2018; Monroe County experienced a 0.9 point decrease and Wayne County experienced a 0.4 point decrease. Among the remainder, none of the other five counties in the region experienced an unemployment increase of more than 0.2 between August of 2018 and August of 2019.
The above chart shows the Standard and Poor’s Case-Shiller Home Price Index for the Detroit Metropolitan Statistical Area. The index includes the price for homes that have sold but does not include the price of new home construction, condos, or homes that have been remodeled.
According to the index, the average price of single-family dwellings sold in Metro Detroit was $129,220 in July 2019; this was $300 higher than the average family dwelling price in June. The July 2019 price was an increase of $4,980 from July of 2018 and an increase of $12,140 from July of 2017, an increase of $20,050 from July of 2016 and increase of $25,880 from July of 2015 and, finally, an increase of
$31,090 from July of 2014.
According to the Bureau of Labor Statistics the percent of the workforce in Michigan that is a member of a union has gradually decreased since 2000. In 2000, 20.3 percent of employed wage and salary workers were represented by a union and in 2018 that dropped to 14.5 percent. The highest percent of union membership of the work force in that time frame was 21.9 percent.
In the 2019 State of Women-Owned Businesses report released by American Express, Detroit ranked as the top metropolitan area that increased a combination of its growth rates for the number of women-owned firms, employed women and their revenue. According to Crain’s Detroit, the number of women-owned businesses in the Metro-Detroit area grew from 157,090 in 2012 to 358,507 in 2019. Additionally, the number of women-owned businesses in the State of Michigan grew 29 percent between 2012 and 2019, with employment at those companies growing 4 percent and revenue growing by 20 percent.