Detroit Economic Forecast

  1. Detroit’s economic picture expected to brighten on multiple fronts over next 5 years, U-M report finds

    Average wages at payroll jobs in Detroit are expected to reach nearly $96,000 by 2028—40% higher than 2019—and average wage and salary income for employed Detroit residents should increase to roughly $50,000—42% higher than 2019. Unfortunately, however, inflation will claw back the significant majority of those gains.

  2. U-M forecast: Detroit economy likely to avoid worst effects of national slowdown, see overall growth

    As the city’s economy approaches full employment and inflation subsides, the economists expect wage gains to outpace inflation from 2024 to 2027.

  3. U-M forecast: Detroit economy overcoming pandemic challenges while grappling with recession fears

    The forecast calls for the city to add 11,300 payroll jobs this year and 6,100 in 2023, the year in which the city is expected to recover to its pre-pandemic level.

  4. Detroit’s jobless rate drops faster than expected, some sectors show strong growth, U-M forecast finds

    The study finds the average wage rate at jobs located in Detroit last year was around 23% higher than in the state overall. However, high wages at those employers don’t translate into high average wages for city residents. Wage and salary income for an employed resident averaged $36,100 in 2020.