Lansing – Michigan’s seasonally adjusted unemployment rate in June edged upward over the month by one-tenth of a percentage point to 8.6 percent, according to data released Wednesday by the Michigan Department of Technology, Management & Budget (DTMB). Total employment declined statewide by 8,000 in June, while the number of unemployed increased by 7,000. The state’s labor force was little changed over the month.
The Michigan jobless rate in June 2012 was two full percentage points below the state’s June 2011 rate of 10.6 percent. The national jobless rate decreased by nine-tenths of a percentage point over this period. The state’s unemployment rate in June was four-tenths of a percentage point above the national rate of 8.2 percent. The U.S. jobless rate was unchanged in June.
“The state labor market displayed little change in June, and has been relatively stable through the first half of 2012,” said Rick Waclawek, director of the Bureau of Labor Market Information and Strategic Initiatives. “Job gains in Michigan were modest during the second quarter, which was similar to national trends.”
Monthly Labor Force Trends & Highlights:
· The state’s jobless rate edged upward in June for the second consecutive month after a run of nine consecutive monthly reductions. However, the June unemployment rate matches Michigan’s 2012 average rate of 8.6 percent.
· Although total employment declined over the last two months, the June total remains above levels posted in the beginning of 2012. From January to June 2012, total employment in Michigan rose by 45,000 or 1.1 percent.
· June marked the first month in 2012 that Michigan’s monthly labor force level did not increase.
· From the first quarter to the second quarter 2012, Michigan’s quarterly jobless rate declined three-tenths of a percentage point from 8.8 to 8.5 percent. Over that period, total employment in the state rose by 29,000 or 0.7 percent while the number of unemployed decreased by 12,000 or 3.0 percent. The state’s workforce expanded by 17,000 from the first to the second quarter.
· From June 2011 to June 2012, the number of unemployed in Michigan fell by 93,000 or nearly 19.0 percent as total employment rose by 94,000 or 2.3 percent, leaving the state’s labor force essentially flat over this period.