Michigan Economic Data

New research from New American Economy (NAE) released in partnership with the City of Detroit, Detroit Regional Chamber, Global Detroit, Oakland County and Wayne County highlights how immigrants are both essential to the region’s COVID response efforts and especially vulnerable.

According to the SBA’s PPP report released on Friday, June 12, Michigan businesses received more than $15.7 billion through more than 115,000 PPP loans. In total banks distributed more than 4.5 million PPP loans totaling over $510 billion dollars across the United States.

Since mid-March over 1.7 million people in Michigan have filed unemployment insurance claims. Michigan’s monthly unemployment rate peaked in April at 22.7%, and has decreased to 14.8% in June.

Detroit Metropolitan Airport experienced a 91% decrease in total passengers in the month of May compared to the same month last year. While U.S. airports saw an 75% decrease in airport travelers over the same weekday last year.

The Detroit region’s daily traffic decreased by 25.6 % over the same day last year, and down 19.2% for statewide daily traffic on the same day last year.

The seated diners in Michigan restaurants is down 42% over the same day last year. As of June 8th, all Michigan restaurant dining rooms and bars can reopen at half capacity. The Detroit Region’s hotel occupancy decreased to 36.2% in May.