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Wed April 18, 2012
Gov. Snyder tweets on a drop in Michigan's unemployment rate
Update 2:50 p.m.
The data was released by the Michigan Department of Technology, Management & Budget (DTMB) this afternoon. Michigan’s seasonally adjusted unemployment rate fell by three-tenths of a percentage point to 8.5 percent
And total employment increased by 21,000 in March, while the number of unemployed declined by 12,000.
The state’s workforce recorded a gain of 9,000 over the month.
“With the March data, Michigan continues to record incremental monthly unemployment rate reductions,” said Rick Waclawek, director of the Bureau of Labor Market Information and Strategic Initiatives. “During the first quarter of 2012, the number of unemployed in Michigan fell by 37,000.”
Well, Mr. Snyder probably did not send the tweet himself, but his 'people' did.
An unemployment rate of 8.5 percent for March is a .3 percent drop from February, and Snyder is taking credit for the drop by adding the hashtag "#TheReinventionIsWorking."
Even though the unemployment rate has been dropping since it hit a peak of 14.1 percent in August and September of 2009, the overall labor force in Michigan has been dropping - meaning there are fewer people working in the state.
Michigan's total labor force dropped each month from November 2006 (5.08 million people working) to December 2011 (4.63 million people working).
But that recently changed. The overall labor force started to grow again in January 2012, and Snyder indicates that growth continues with the addition 21,000 more jobs.
For an more on how the unemployment rate is calculated, look at my post here.