Metro Detroit saw higher jobless rates compared with the national average but the median sale price of a home increased and new construction was steady.
The pandemic has impacted the U.S. economy and workers unevenly, and that holds true in metro Detroit, with sectors such as automotive and manufacturing showing resiliency while small businesses and the leisure and hospitality industry getting hit hard. That’s according to an annual report from the Detroit Regional Chamber that looks at the state of the region’s economy. The report for 2021, released Thursday, focused on the economic impact of the pandemic. Concerning metro Detroit statistics include: More promising statistics include: “There is often a strong correlation between national economic downturns and deep recessionary periods for Michigan,” Sandy Baruah, president and CEO of the Detroit Regional Chamber, which represents businesses across southeast Michigan, said in a news release accompanying the report.
