One of the nation’s most populous regions and largest economies is the Detroit Region, which has shown resiliency over the past few years. There has been positive economic output, population increase, and job growth with steady labor force participation rates.
- The annual gross domestic product (GDP) in the Detroit Region reached $290 billion in 2021, increasing 8.3% in one year, which outpaced the nation’s average GDP growth.
- There are more than 5.5 million residents in the Detroit Region, which increased by more than 50,000 people from 2019 to 2021.
- The labor force participation rate in the Detroit Metro was equal to the national average rate in 2019 but has dropped slightly below with a rate of 62.4% in 2021.