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Welcome to "Detroit Job Market Report," your go-to podcast for the latest insights, trends, and analysis of the job market in Detroit. Whether you're a job seeker, employer, or just...
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Welcome to "Detroit Job Market Report," your go-to podcast for the latest insights, trends, and analysis of the job market in Detroit. Whether you're a job seeker, employer, or just curious about the economic landscape, we cover everything from emerging industries to key employment data and career tips. Stay ahead of the curve with expert interviews, workforce development updates, and actionable advice to help you succeed in Detroit's dynamic job market. Tune in to keep your finger on the pulse and make informed decisions for your career or business. Subscribe now and never miss an episode!
For more info go to https://www.quietperiodplease....
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For more info go to https://www.quietperiodplease....
Detroit Job Market Report
Detroit Job Market Report
Transcribed
27 SEP 2024 · The job market in Detroit reflects a mix of stability and growth, with some sectors showing significant expansion. As of June 2024, the total nonfarm employment in the Detroit-Warren-Dearborn, MI metropolitan area stood at 2,082,400, which is a slight increase from the previous year, though not statistically significant.
The employment landscape is diverse, with major industries including health services, government, manufacturing, and retail trade. Health services and government each account for about 12% of the employment, while manufacturing and retail trade each account for around 10%.
Key statistics include an average salary in the Detroit Region of $68,133, slightly lower than the national average. The region employs over 2.3 million individuals across 11 counties, with Oakland, Wayne, Macomb, and Washtenaw counties making up the largest share of employment.
Trends indicate that the Trade, Transportation, and Utilities sector added the most new jobs since 2018, with 9,889 new positions. In contrast, the Leisure and Hospitality industry experienced a significant decline, losing 23,415 jobs since 2017.
The unemployment rate in Detroit saw an increase between 2019 and 2021, rising by 7 percentage points, though recent data does not provide a current unemployment rate.
Major employers in the city include Rocket Companies Inc., Stellantis, the City of Detroit, and Henry Ford Health System. In the broader Southeast Michigan region, Ford Motor Company, General Motors, and the University of Michigan are among the largest employers.
Growing sectors include mining, logging, and construction, which saw an increase of 7,700 jobs since June 2023. The Information industry, though smaller, leads in average annual salary at $100,536.
Recent developments show employment in the Warren-Troy-Farmington division and the Detroit-Dearborn-Livonia division contributing to the overall employment numbers. The city of Detroit itself added 8,000 jobs in 2022, similar to the gains in 2021.
Seasonal patterns are not significantly highlighted in recent data, but commuting trends are influenced by the concentration of employment in major counties like Oakland and Wayne. Government initiatives focus on building economic equity and ensuring access to quality employment across demographic groups.
The market evolution is marked by a gradual increase in employment and salaries, with a 16.4% increase in average salary since 2018, though below the national rate.
Key findings include a stable but slowly growing job market, significant employment in health services and manufacturing, and a need for addressing unemployment disparities across different demographic groups.
Current job openings include positions such as Construction Managers with an average annual salary of $121,760, Logisticians with an average annual salary of $88,630, and Project Management Specialists with an average annual salary of $104,310.
Transcribed
24 SEP 2024 · The job market in Detroit exhibits a complex and evolving landscape. As of June 2024, the Detroit-Warren-Dearborn, MI, metropolitan area reported a total nonfarm employment of 2,082,400, which is a slight increase from 2,075,100 a year ago, although this change was not statistically significant.
The employment landscape is characterized by two main metropolitan divisions: Warren-Troy-Farmington and Detroit-Dearborn-Livonia. The Warren-Troy-Farmington division accounts for 62% of the metropolitan area's total payroll, with 1,299,700 jobs, while the Detroit-Dearborn-Livonia division employs 782,700, accounting for 38% of the area's employment.
Key statistics show that the mining, logging, and construction sector saw a significant increase of 7,700 jobs since June 2023. Other sectors like trade, transportation, and utilities, and education and health services also experienced modest growth.
Despite these gains, the unemployment rate in Detroit remains high. As of July 2024, the unemployment rate stood at 13.80%, which is higher than the long-term average of 13.37% and significantly higher than the rate a year ago.
Major industries in the area include manufacturing, with 256,100 jobs, and professional and business services, with 394,200 jobs. However, the manufacturing sector has seen a decline from its historical highs, with only 23,000 manufacturing jobs remaining in Detroit itself by 2007, down from 333,000 in the late 1940s.
Growing sectors include education and health services, which saw an increase of 6,400 jobs, and leisure and hospitality, which added 4,500 jobs since June 2023.
Recent developments highlight the issue of job sprawl and commuting trends. Many Detroit residents leave the city for work, with only 25% of primary jobs in Detroit held by city residents. This is partly due to transportation barriers and the lack of functional public transit.
Government initiatives aim to address these issues by improving job skills for residents and connecting them with higher-paying jobs within the community. Efforts to enhance local employment opportunities and reduce the gap between job availability and resident employment are ongoing.
Seasonal patterns show some variability, but overall employment trends are more influenced by broader economic indicators than seasonal changes. The labor force participation rate in Detroit has seen a decline between 2019 and 2021, despite some improving trends in the preceding years.
In terms of current job openings, positions are available in various sectors such as healthcare, education, and professional services. For example, there are openings for nurses, teachers, and IT professionals in the Detroit area.
Key findings indicate that while there are signs of employment growth in certain sectors, the job market in Detroit is challenged by high unemployment rates, job sprawl, and significant commuting patterns. Addressing these issues through targeted government initiatives and improving local job opportunities remains crucial for the region's economic equity and growth.
Welcome to "Detroit Job Market Report," your go-to podcast for the latest insights, trends, and analysis of the job market in Detroit. Whether you're a job seeker, employer, or just...
show more
Welcome to "Detroit Job Market Report," your go-to podcast for the latest insights, trends, and analysis of the job market in Detroit. Whether you're a job seeker, employer, or just curious about the economic landscape, we cover everything from emerging industries to key employment data and career tips. Stay ahead of the curve with expert interviews, workforce development updates, and actionable advice to help you succeed in Detroit's dynamic job market. Tune in to keep your finger on the pulse and make informed decisions for your career or business. Subscribe now and never miss an episode!
For more info go to https://www.quietperiodplease....
show less
For more info go to https://www.quietperiodplease....
Information
| Author | QP - Daily |
| Organization | William Corbin |
| Categories | Society & Culture , Careers , Business News |
| Website | - |
| corboo@mac.com |
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