Grand Rapids, MI Jobs Report

August 2020 Jobs Report

Jobs Added

Metro +5,900
  • Month Over Month: +1.2%
  • 3 Month Average: 25,700
  • Year Over Year: -9.1%
State +103,200
  • Month Over Month: +2.7%
  • 3 Month Average: 180,100
  • Year Over Year: -11.1%
National +1,371,000
  • Month Over Month: +1.0%
  • 3 Month Average: 2,628,667
  • Year Over Year: -6.8%

Unemployment Rate

Metro 8.4%
  • Month Over Month: -3.6%
  • 3 Month Average: 12.5%
  • Year Over Year: +4.5%
State 9.5%
  • Month Over Month: -5.5%
  • 3 Month Average: 15.1%
  • Year Over Year: +4.4%
National 8.4%
  • Month Over Month: -1.8%
  • 3 Month Average: 9.9%
  • Year Over Year: +4.7%

This month, employers are slowly bringing back furloughed workers, but millions are still out of work. The economy has added 1.4 million jobs this month. This month brings the unemployment rate to 8.4 percent, which is a significant drop from almost 15 percent in April. The nonfarm payroll increased by 1.4 million as the economy is trying to climb its way out of the pandemic downturn.

“We continue to be optimistic that the economy has turned a corner and that we’ll continue to see steady progress.”  Tony Bedikian, head of global markets at Citizens Bank.

There were close to 240,000 temporary workers hired in the month of August. The labor force participation rate also increased this month to 61.7 percent.

Sector Job Growth from the B.L.S.

Financial Activities +100
  • Month Over Month: +0.4%
  • 3 Month Average: 26
  • Year Over Year: -2.2%
Professional & Business Services +200
  • Month Over Month: +0.3%
  • 3 Month Average: 65
  • Year Over Year: -11.1%

Industry Job Growth from the B.L.S.

Finance & Insurance -100
  • Month Over Month: -0.5%
  • 3 Month Average: 22
  • Year Over Year: 0.0%
Real Estate & Rental & Leasing +900
  • Month Over Month: +1.8%
  • 3 Month Average: 49
  • Year Over Year: -10.7%
Accounting, Tax Preparation, Bookkeeping, & Payroll Services +1,100
  • Month Over Month: +4.4%
  • 3 Month Average: 25
  • Year Over Year: +2.8%
Employment Services +500
  • Month Over Month: +2.8%
  • 3 Month Average: 17
  • Year Over Year: -18.7%

Metropolitan Month-Over Month Job Growth by Sector

*The following chart displays the latest local job growth by sector compared to the previous month. Note that if a sector experienced losses or flat growth, it will not be displayed as part of the graphic.

BLS.gov cannot vouch for the data or analyses derived from these data after the data have been retrieved from BLS.gov.

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