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Lansing – Michigan’s seasonally adjusted unemployment rate in January edged up over the month by one-tenth of a percentage point to 5.2 percent (the December 2016 rate was revised upward by one-tenth of a percentage point), according to data released today by the Michigan Department of Technology, Management & Budget (DTMB). The state’s workforce rose by 24,000 in January as both total employment (+18,000) and the number of unemployed (+6,000) increased.
The Michigan jobless rate in January 2017 was two-tenths of a percentage point above the state’s January 2016 rate of 5.0 percent. The national jobless rate decreased slightly by one-tenth of a percentage point over this period. The state’s unemployment rate in January was four-tenths of a percentage point above the national rate. The U.S. jobless rate rose slightly by one-tenth of a percentage point to 4.8 percent from December to January.
“Michigan’s slight January jobless rate increase was primarily due to the continued entry of individuals into the state’s workforce seeking employment,” said Jason Palmer, director of the Bureau of Labor Market Information and Strategic Initiatives. “The state’s unemployment rate has been very steady since mid-2015, and the state workforce has grown by nearly 2.0 percent over the past year.”
Monthly Labor Force Trends & Highlights
· With the annual revision process, Michigan’s 2016 annual unemployment rate was revised slightly upward by one-tenth of a percentage point to 4.9 percent.
· Michigan’s 4.9 percent 2016 annual rate matched the national 2016 annual rate. Annual jobless rates between the U.S. (5.3 percent) and Michigan (5.4 percent) were very similar in 2015 as well.
· Although the state’s monthly jobless rates have been stable since mid-year 2015, remaining within the narrow band of 4.8 to 5.2 percent, Michigan’s workforce and total employment levels have recorded consistent monthly gains.
· From January 2016 to January 2017, total employment rose in Michigan by 77,000 or 1.7 percent while the state’s workforce grew by 89,000 or 1.9 percent, both of which outpaced the national total employment and labor force growth rates of 1.0 and 0.9 percent respectively. Since January 2016, the number of unemployed in Michigan increased slightly, while the number of unemployed showed a marginal decline nationwide.