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Over the last 10 years the Des Moines Metro Area has experienced employment growth of 16.2%, which is +1.9% higher than the US over the decade.
Employment continues to rise as the workforce emerges out from the impacts of COVID-19.
The highest ten-year job growth is among Construction, and Professional & Business Services.
GDP declined over $1.2 million (0.2%) from 2021 to 2022, something that hasn’t happened in the last five years. Overall GDP exceeded $57 million.
The MSA, along with the rest of the Nation on average, saw growth above 5% from 2020 to 2021. With high inflation in 2021, the Federal Reserve began raising interest rates to cool the economy. This could be part of the reason for GDP decline in the Des Moines Metro from 2021 to 2022.
The median household in the Des Moines Metro earns over $82K. Median income in the MSA surpasses the national average by roughly $7.9K, continuing a trend of higher median income since at least 2018.
Median household income grew by 7.3% from 2021 to 2022, faster than the year prior. Strong growth in household income is a positive sign of the economy, in contrast to the contraction of GDP.
