According to the report, Grand Rapids is enjoying a robust and growing population trending younger, more educated, and increasingly diverse, with a nearly 20% increase in 25- to 34-year-olds holding a bachelor’s degree or higher.
Grand Rapid’s diverse population has also increased significantly to nearly 25% of the region today, which is up from 17% two decades ago. That number is projected to hit 35% by 2050.
The unemployment rate for greater Grand Rapids is 3.5%. With a population of 1.1 million, roughly 27,000 working-age residents are jobless. For those who are working, the average hourly wage is $30.80.
The report surveyed Human Resources professionals with 73% saying inflation is a top concern, but only 27% of HR executives indicating they factor inflation into annual pay raises.
Of note, there is a strong talent demand for AI and tech-related jobs, with AI job postings in West Michigan having jumped over 300% since 2022.
You can read the full report online at TheRightPlace.org
