Real GDP (chained 2017 dollars)
$575,397,000,000
2025 · BEA
Real GDP growth
2.2%
2025 · Annual % change in BEA real GDP
Per capita personal income
$67,245
2025 · BEA
Median household income (CPS)
$76,800
2025 · Census CPS ASEC
Poverty rate, all ages (SAIPE)
13.4%
2024 · Census Small Area Income and Poverty Estimates
CPI inflation, U.S.
2.9%
2024 · BLS CPI-U U.S. city average
Nominal GDP (current dollars)
$733,887,000,000
2025 · BEA
Government jobs
627,125
2025 · BLS Current Employment Statistics
GDP
Total economic output.
Real GDP (chained 2017 dollars)
$575,397,000,000
2025 · BEA
Rank
14th in the U.S.
Share of U.S. GDP
2.4%
Real GDP (chained 2017 dollars)
1997–2025$575,397,000,000▲ 36%
BEA, chained 2017 dollars (FRED MIRGSP).
| Indicator | Michigan | U.S. |
|---|---|---|
| GDP (USD B) | 706 | 29200 |
- •If Michigan were a country, its economy would rank around 25th in the world.
GDP Growth
Real growth of output.
Real GDP growth
2.2%
2025 · Annual % change in BEA real GDP
5-year average
+1.6%
Trend
Below average
Real GDP growth
1998–20252.2%
Annual % change in BEA real GDP (MIRGSP).
| Indicator | Michigan | U.S. |
|---|---|---|
| Real GDP growth (%) | 2.0 | 2.8 |
- •Michigan's growth tracks auto production cycles more closely than any other state economy.
Personal Income
Income per resident.
Per capita personal income
$67,245
2025 · BEA
Personal income per capita
$60,900
Rank
33rd in the U.S.
Per capita personal income
1970–2025$67,245▲ 1501%
BEA, current dollars (FRED MIPCPI).
| Indicator | Michigan | U.S. |
|---|---|---|
| Personal income per capita (USD) | 60900 | 69800 |
- •Michigan's per-capita income was above the U.S. average until the early 2000s auto downturn.
Median Household Income
Typical household income.
Median household income (CPS)
$76,800
2025 · Census CPS ASEC
Median household income
$69,200
Rank
36th in the U.S.
5-year change
+21%
Median household income (CPS)
1984–2025$76,800▲ 234%
Census CPS ASEC, current dollars (FRED MEHOINUSMIA646N).
| Indicator | Michigan | U.S. |
|---|---|---|
| Median household income (USD) | 69200 | 77719 |
- •Oakland County's median household income is over $91,000, roughly $35,000 above Wayne County's.
Poverty Rate
Share living below the poverty line.
Poverty rate, all ages (SAIPE)
13.4%
2024 · Census Small Area Income and Poverty Estimates
Poverty rate
13.2%
Child poverty
17.9%
Poverty rate, all ages (SAIPE)
1989–202413.4%
Census Small Area Income and Poverty Estimates (FRED PPAAMI26000A156NCEN).
| Indicator | Michigan | U.S. |
|---|---|---|
| Poverty rate (%) | 13.2 | 12.5 |
- •Detroit remains one of the poorest large cities in the country, with a poverty rate near 32%.
Inflation
Consumer price change.
CPI inflation, U.S.
2.9%
2024 · BLS CPI-U U.S. city average
CPI change
+2.8%
Shelter inflation
+4.3%
Food inflation
+2.0%
CPI inflation, U.S.
2007–20242.9%
BLS CPI-U U.S. city average, annual average change (CPIAUCNS).
| Indicator | Michigan | U.S. |
|---|---|---|
| CPI change (%) | 2.8 | 3.0 |
- •Midwest urban CPI, which covers Detroit and Grand Rapids, has run slightly below the national rate since 2023.
Economic Output
Output per resident and worker.
Nominal GDP (current dollars)
$733,887,000,000
2025 · BEA
GDP per capita
$69,600
Output per worker
$151,000
Rank
34th in the U.S.
Nominal GDP (current dollars)
1997–2025$733,887,000,000▲ 145%
BEA, current dollars (FRED MINGSP).
| Indicator | Michigan | U.S. |
|---|---|---|
| GDP per capita (USD) | 69600 | 87200 |
- •Michigan produces more motor vehicles and parts than any other state.
Industry Breakdown
Composition of the economy.
Government jobs
627,125
2025 · BLS Current Employment Statistics
Manufacturing jobs
586,025
2025 · BLS Current Employment Statistics
Construction jobs
201,167
2025 · BLS Current Employment Statistics
Manufacturing
17.5% of GDP
Motor vehicles & parts
5.5%
Professional services
7.6%
Government jobs
1990–2025627,125▼ 1%
BLS Current Employment Statistics, annual average (FRED MIGOVT).
Manufacturing jobs
1990–2025586,025▼ 29%
BLS Current Employment Statistics, annual average (FRED MIMFG).
Construction jobs
1990–2025201,167▲ 41%
BLS Current Employment Statistics, annual average (FRED MICONS).
| Indicator | Michigan | U.S. |
|---|---|---|
| Manufacturing share of GDP (%) | 17.5 | 10.2 |
- •Michigan has the highest manufacturing share of GDP of any large U.S. state.
More figures
GDP
$706 B
14th in the U.S.
GDP per capita
$69,600
Unemployment rate
4.4%
2024
Median annual wage
$48,700
Fortune 500 HQs
17 companies
Leading sector
Motor vehicle manufacturing