NAICS 52

Finance and Insurance in Michigan: 2026 Market Risk Report

Entry risk 49.8 (Elevated), ranked #23 of 51 states. 15,276 establishments, 158,756 jobs.

Entry Risk Assessment

Entry Risk Score 49.8
Low 0-30
Moderate 30-42
Elevated 42-55
High 55+
Elevated

ⓘ Lower is better. Relative to national finance and insurance average.

⛔High Barrier to Entry

The finance and insurance sector in Michigan is tracking close to the U.S. baseline, with no extreme signals in volatility, saturation, or wage pressure. Entry conditions are within the national median range.

5-Year Firm Retention
41.2%
Percentile within industry
Rank #31 of 51 states
Growth Momentum
25.1
Scale of 0-100
Rank #31 of 51 states
Establishment Density
16.7
vs. national average
Rank #8 of 51 states
Market Volatility
8.4
Lower is more stable
Wage Pressure Index
55.5
Labor cost pressure

15,276 Establishments in Michigan

15,276
Establishments
-3.3% YoY
158,756
Total Employment
+1.9% YoY
$99,769
Average Annual Wage
+4.5% YoY

Michigan vs National Finance and Insurance Average

How Michigan's finance and insurance market compares to the national average across all 51 states.

Metric MI National Difference
Entry Risk Score 49.8 51.9 -2.1
5-Year Retention 41.2% 51.0% -9.8
Growth Momentum 25.1 34.4 -9.3
Market Volatility 8.4 9.6 -1.2
Establishment Density 16.7 42.5 -25.8
Wage Pressure 55.5 66.8 -11.3

Green = favorable vs national average. Red = less favorable. Metrics are relative within finance and insurance only.

Michigan Ranks #23 of 51 for Finance and Insurance

Michigan ranks #23 out of 51 states for finance and insurance market entry conditions.

Finance and Insurance Entry Risk by State

Rank State Risk Score Classification
#1 Hawaii 37.0 moderate
#2 West Virginia 39.8 moderate
#3 Kentucky 40.0 moderate
#4 Rhode Island 41.9 moderate
#5 Maine 42.0 elevated
#23 Michigan You 49.8 elevated
Entry Risk by State Alaska — 49.7 · #21 Alabama — 48.4 · #18 Arkansas — 44.7 · #7 Arizona — 52.6 · #29 California — 46.9 · #12 Colorado — 67.3 · #50 Connecticut — 73.7 · #51 District of Columbia — 47.9 · #13 Delaware — 57.7 · #44 Florida — 61.9 · #46 Georgia — 56.4 · #40 Hawaii — 37.0 · #1 Iowa — 54.3 · #35 Idaho — 56.2 · #39 Illinois — 46.2 · #10 Indiana — 45.4 · #9 Kansas — 57.0 · #42 Kentucky — 40.0 · #3 Louisiana — 42.0 · #6 Massachusetts — 48.2 · #15 Maryland — 52.6 · #30 Maine — 42.0 · #5 Michigan — 49.8 · #23 Minnesota — 46.6 · #11 Missouri — 57.7 · #43 Mississippi — 54.5 · #36 Montana — 59.0 · #45 North Carolina — 48.4 · #17 North Dakota — 52.1 · #28 Nebraska — 49.4 · #20 New Hampshire — 49.8 · #22 New Jersey — 53.2 · #32 New Mexico — 53.1 · #31 Nevada — 55.6 · #38 New York — 65.4 · #49 Ohio — 48.2 · #14 Oklahoma — 64.9 · #48 Oregon — 56.7 · #41 Pennsylvania — 48.8 · #19 Rhode Island — 41.9 · #4 South Carolina — 48.4 · #16 South Dakota — 50.1 · #24 Tennessee — 53.4 · #33 Texas — 50.4 · #25 Utah — 51.9 · #27 Virginia — 50.8 · #26 Vermont — 53.6 · #34 Washington — 55.5 · #37 Wisconsin — 45.3 · #8 West Virginia — 39.8 · #2 Wyoming — 62.0 · #47
Low Moderate Elevated High

Tap a state to view details

About Entry Risk Score: A weighted composite of firm retention, growth momentum, market volatility, establishment density, and wage pressure. Lower scores indicate more favorable conditions. Read full methodology →

Data Sources

Data period: 2024. Last updated: February 2026. Next refresh expected: Q2 2026 (BLS QCEW update).

Compare to Another State

How does Michigan stack up against other states for finance and insurance?

Select a state above to see the comparison

Finance and Insurance in Neighboring States

How Michigan's finance and insurance market compares to bordering states.

Wisconsin 45.3 #8/51 Indiana 45.4 #9/51 Ohio 48.2 #14/51

Other Industries in Michigan

Construction → Healthcare and Social Assistance → Retail Trade → Accommodation and Food Services → Professional, Scientific, and Technical Services → Real Estate and Rental and Leasing → Administrative and Support Services → Information → Other Services →