Michigan · NAICS 52 · Annual, 2025

Finance and Insurance in Michigan

Employment, establishments and average pay for NAICS 52 in Michigan, 2004–2025, from DTG's QCEW-based estimates.

In 2025, Finance and Insurance (NAICS 52) employed about 162,300 people in Michigan across roughly 15,910 establishments, with average annual pay of $106,240.

Employment in Finance and Insurance in Michigan grew 3.7% from 2004 to 2025. Average pay in the industry is 50.0% above the all-industries average in Michigan. Quarterly values, full industry detail and projections to 2036 for Michigan are included with a free account. County-level detail is part of every paid plan, or one county free for seven days.

  • 162,300Employment, 2025
  • 15,910Establishments
  • $106,240Avg. annual pay
  • 3.7%Share of Michigan jobs
  • 0.90Location quotient

The 2025 figures above are a DTG estimate: Estimated · 1.00. † Not disclosed in QCEW; DTG estimate.

Employment, 2004 to 2025

Annual average · all ownerships

Employment in Finance and Insurance in Michigan, 2004–2025Line chart of annual employment from 2004 to 2025, from 156,500 to 162,300.050K100K150K200K20042010201520202025

Annual employment, 2004–2025: 2004 156,500; 2005 157,200; 2006 155,800; 2007 151,700; 2008 145,300; 2009 135,100; 2010 130,900; 2011 131,700; 2012 135,800; 2013 139,900; 2014 139,700; 2015 141,400; 2016 145,500; 2017 148,400; 2018 148,700; 2019 153,000; 2020 156,500; 2021 162,500; 2022 158,900; 2023 155,900; 2024 158,900; 2025 162,300.

Last ten years

Annual · 10 years

YearEmploymentEstab.Avg. annual payChangeSource
2025162,29815,910$106,236 2.1%est. · 1.00
2024158,94715,304$99,789 1.9%pub.
2023155,94915,820$95,514 1.9%est. · 1.00
2022158,93114,508$92,310 2.2%pub.
2021162,51113,335$92,883 3.9%pub.
2020156,49312,574$90,373 2.3%pub.
2019153,02211,811$82,703 2.9%pub.
2018148,71611,689$80,263 0.2%pub.
2017148,38911,746$78,033 2.0%pub.
2016145,51311,756$76,071 2.9%pub.

† Not disclosed in QCEW; DTG estimate.

The full history from 2004 and quarterly values are available with a free account.

By subsector, 2025

3-digit NAICS · 5 shown

CodeSubsectorEmploymentShare of finance and insuranceLQSource
521Monetary Authorities-Central Bank2320.1%0.40est. · 0.93
522Credit Intermediation and Related Activities78,57348.4%1.08pub.
523Securities, Commodity Contracts, and Other Financial Investments and Related Activities15,2589.4%0.49est. · 1.00
524Insurance Carriers and Related Activities67,16441.4%0.91pub.
525Funds, Trusts, and Other Financial Vehicles1,0720.7%1.11est. · 0.98

† Not disclosed in QCEW; DTG estimate.

Where these numbers come from

Reading these figures

The figures on this page come from one named vintage, stated below, and are annual values for all ownerships combined. Where QCEW withheld a value, the marked figure is an estimate that DTG produced under the constraints of the published record; suppression is a property of QCEW, not of DTG, and a withheld value is marked rather than silently omitted. Two things DTG itself holds back, and says so where it does: an estimate that cannot be given a reliability score is not shown, and average pay is not shown where fewer than three jobs are reported. The row is marked withheld, with the reason in a note beneath the table. The mark is on every row that carries a value: the headline, the yearly history, the subsectors and the other states. An estimated value that rounds below one is shown as less than one, not as zero. Quarterly figures, county figures and projected years are in the app.

How this figure was built

Employment is the average of the three monthly counts in each quarter, averaged across the year, and establishments are averaged across the year the same way. Average annual pay is the year’s total wages divided by that average employment. Each of these is DTG’s value: QCEW’s published figure where QCEW disclosed it, and DTG’s estimate, marked, where it did not. How withheld values are estimated, and what the reliability score beside a figure means, are described on the industry data and disclosure and provenance pages.

Estimated by Data Tactical Group from BLS QCEW, with CES/SAE and projection inputs described in the methodology. Method: Disclosure, Industry.

Notes

Data Tactical Group is an independent company and is not affiliated with or endorsed by any federal agency.

Finance and Insurance in Michigan, quarterly, at full depth

This page shows annual figures for finance and insurance in Michigan. A free account shows every detailed industry beneath it, quarterly, for every state, with projections to ten years. No card.

County figures, file export and the API are on paid plans.