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Michigan's May Jobless Rate Declines

Lansing – Michigan’s seasonally adjusted unemployment rate in May edged down by one-tenth of a percentage point to 4.6 percent, according to data released today by the Michigan Department of Technology, Management & Budget (DTMB).  Total employment rose by 10,000 over the month while the number of unemployed in the state declined by 5,000.  In May, Michigan’s workforce grew by 5,000.

The Michigan jobless rate in May 2018 was two-tenths of a percentage point above the state’s May 2017 rate of 4.4 percent.  The national jobless rate declined by five-tenths of a percentage point over this period.  The state’s unemployment rate in May was eight-tenths of a percentage point above the national rate.  The U.S. jobless rate decreased by one-tenth of a percentage point to 3.8 percent in May.

“Following a sluggish April, Michigan payroll jobs rebounded in May to the highest level in 2018,” said Jason Palmer, director of the Bureau of Labor Market Information and Strategic Initiatives.  “The state’s payroll job growth so far this year has moderately outpaced job growth posted over the same period in 2017.” 

Monthly Labor Force Trends & Highlights

·         Michigan’s May jobless rate was the lowest recorded by the state since the August 2017 rate of 4.6 percent.

·         Since August 2017, the state’s monthly unemployment rates have remained within the narrow band of 4.6 to 4.8 percent.

·         After a slow start to the year in January and February, total employment gained some momentum over the last three months.  From February to May, total employment in Michigan advanced by 19,000 or 0.4 percent.

·         Since May 2017, total employment in Michigan increased by 28,000 or 0.6 percent while the number of unemployed moved upward by 11,000 or 5.2 percent.  Nationally over the same period, total employment rose by 1.7 percent and the number of unemployed declined by 11.3 percent.

·         From May 2017 to May 2018, Michigan’s workforce rose by 40,000 or 0.8 percent, which was slightly outdone by the national growth rate of 1.1 percent.

 

 


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