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Michigan's unemployment rate is falling, but is that indicative of the economy overall?

A survey conducted by Michigan State University's Charles Ballard shows an improved approval rating for Governor Snyder.
Michigan State University Professor of Economics, Charles Ballard. Ballard says, "if you compare apples to apples, most state employees are not highly compensated compared to their private sector counterparts."

Michigan's unemployment rate dropped to 8.4% last month. That December number brings the state's 2013 average jobless rate to 8.7%.   

That's down from 8.9% the year before.

And that means Michigan's annual jobless rate has gone done now for three years in a row.

But are these numbers a good indication of how Michigan's overall economy is fairing?

Charles Ballard, professor of economics at Michigan State University, joined us today to help answer that question.

Listen to the full interview above.

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