Lansing – Michigan’s seasonally adjusted unemployment rate in May was flat over the month at 8.4 percent, according to data released today by the Michigan Department of Technology, Management & Budget (DTMB). Total employment rose by 24,000 over the month as Michigan’s labor force advanced by 28,000. The number of unemployed in the state edged upward in May by 4,000.
The Michigan jobless rate in May 2013 was eight-tenths of a percentage point below the state’s May 2012 rate of 9.2 percent. The national jobless rate decreased by six-tenths of a percentage point over this period. The state’s unemployment rate in May was eight-tenths of a percentage point above the national rate of 7.6 percent. The U.S. jobless rate increased slightly over the month by one-tenth of a percentage point.
“Michigan’s labor market indicators appeared favorable in May,” said Michael Williams, acting director of the Bureau of Labor Market Information and Strategic Initiatives. “Payroll jobs registered a significant increase, and the size of the workforce advanced for the fifth consecutive month.”
Monthly Labor Force Trends & Highlights
· May marked the third consecutive month that the number of unemployed in Michigan was below 400,000. The last time that occurred was during the first half of 2008.
· Nearly halfway through 2013, the state’s average seasonally adjusted jobless rate was 8.6 percent, which was down by half of a percentage point from the 2012 average rate of 9.1 percent.
· Total employment has consistently tracked upward in Michigan since September 2012. Over this period, total employment growth has averaged a little over 9,000 per month.
· Since May 2012, Michigan’s workforce has advanced by 33,000 or 0.7 percent, which outpaced national labor force growth of 0.4 percent over this period.
· From May 2012 to May 2013, the number of unemployed in Michigan declined by 33,000 or 7.7 percent, which was similar to the 7.4 percent decrease nationally.