Michigan’s October Unemployment Rate Decreases

Lansing – Michigan’s seasonally adjusted unemployment rate in October declined over the month by two-tenths of a percentage point to 9.1 percent, according to data released today by the Michigan Department of Technology, Management & Budget (DTMB).  Total employment in Michigan rose by 13,000 in October, while the number of unemployed decreased by 5,000.  The state’s labor force grew by 7,000 over the month.

The Michigan jobless rate in October 2012 was eight-tenths of a percentage point below the state’s October 2011 rate of 9.9 percent.  The national jobless rate decreased by one percentage point over this period.  The state’s unemployment rate in October was one and two-tenths percentage points above the national rate of 7.9 percent.  The U.S. jobless rate edged upward over the month by one-tenth of a percentage point.

“Since 2011, several Michigan labor market indicators have displayed modest improvement,” said Rick Waclawek, director of the Bureau of Labor Market Information and Strategic Initiatives.  “Over the past year, the state jobless rate has declined, job levels rose, and the size of the workforce has edged up.”

Monthly Labor Force Trends & Highlights

• October marked the second consecutive monthly jobless rate decline for Michigan.  The state rate peaked in 2012 at 9.4 percent in August.

• Through ten months of 2012, Michigan’s year-to-date unemployment rate has averaged 8.9 percent, well below the 2011 annual average rate of 10.3 percent.  2012 will mark the third year in a row of jobless rate reductions.

• Michigan’s workforce advanced in October for the second consecutive month to reach the highest level in 2012.  Over the year, the state’s labor force rose by 32,000 or 0.7 percent.

• Since October 2011, the number of unemployed in the state fell by 32,000 or 7.0 percent.

 MICHIGAN

Labor Force Estimates

Seasonally Adjusted

(Data in Thousands)