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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 increased over $605 million (1.0%) from 2022 to 2023, a slight reversal since declining by 0.2% from 2021 to 2022. Overall GDP exceeded $60 billion.
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, and below average GDP growth from 2022 to 2023.
The median household in the Des Moines Metro earns over $83K. Median income in the MSA surpasses the national average by roughly $5.9K, continuing a trend of higher median income since at least 2019.
Median household income grew by 1.2% from 2022 to 2023, faster than the year prior. Consistent growth in household income is a positive sign of the economy, in contrast to the up-and-down variation of GDP.
