(Source: MIRS.news, Published 09/14/2022) Michigan's unemployment rate for August moved down one-tenth of a percentage point from July to 4.1%, according to data released Wednesday by the Department of Technology, Management & Budget (DTMB).
Statewide employment inched up by 1,000 during August while total unemployment was reduced 1,000.
Since August 2021, unemployment is down 1.9 percentage points.
“Michigan’s labor market continued to remain steady in August with little change in employment and unemployment. Seasonally adjusted payroll jobs advanced slightly since July,” said Wayne Rourke, associate director of the Bureau of Labor Market Information and Strategic Initiatives.
DTMB data showed that seasonably adjusted payroll jobs rose by 4,000 in August and job changes were minor, with no major industry seeing any change greater than 4,000 during the month.
The U.S. unemployment rate rose to 3.7% in August, bringing Michigan closer to the national average.
Gov. Gretchen Whitmer said the unemployment rate is the lowest since March 2020, which was the same month the state shut down because of the COVID-19 pandemic.
“Because of our hardworking people, innovative businesses, and resilient communities, our unemployment rate is now at the lowest rate in years and the economy added 135,000 jobs in the last year alone. We still have a lot of work to do, but we have the momentum,” Whitmer said.
