Michigan unemployment rate drops for first time since April
Michigan’s unemployment rate dropped one-tenth of a percentage point in September, to 9.3 percent says a new report released by the Michigan Department of Technology, Management & Budget (DTMB).
This marks the state’s first decline in the jobless rate since April.
Total employment increased by 11,000 in September and has risen by 58,000 over the course of the past year.
From the report:
The Michigan jobless rate in September 2012 was nearly one percentage point below the state’s September 2011 rate of 10.2 percent. The national jobless rate decreased by one and two-tenths percentage points over this period. “Michigan unemployment rates thus far in 2012 have been well below 2011 levels, and payroll jobs have increased during each of the first three quarters of 2012,” said Rick Waclawek, director of the Bureau of Labor Market Information and Strategic Initiatives. “Although there have been month to month variations, January to September 2012 payroll jobs in Michigan have averaged 54,000 above the comparable period of 2011."
The graph above shows DTMB's data on the labor force and the unemployment rate over the past decade.
For more information on what these numbers mean, see this explanation by Michigan Radio's Mark Brush.
- Jordan Wyant, Michigan Radio Newsroom