LANSING, MI (WKZO AM/FM) — Michigan’s seasonally adjusted jobless rate edging down by one-tenth of a percentage point between July and August to 4.1 percent. This according to data released on Wednesday, September 14 by the Michigan Department of Technology, Management and Budget.
Statewide employment inched up by 1,000, while total unemployment showed the same number of reduction, resulting in an unchanged workforce over the month.
The U.S. jobless rate rose by two-tenths of a percentage point over the month to 3.7 percent, with Michigan’s unemployment rate four-tenths of a percentage point over the national rate.
However, Michigan faired slightly better in reducing it’s jobless rate by 1.9 percentage points while the national rate was reduced by 1.5 percentage points since August of 2021.
One notable statistic here. Employment in the state’s professional and business services sector exhibited the largest over-the-month reduction in employment, with jobs receding by 4,000 since July, while the leisure and hospitality sector showed an employment increase for the second consecutive month during August.
“Michigan’s labor market continued to remain steady in August with little change in employment and unemployment,” said Wayne Rourke, associate director of the Bureau of Labor Market Information and Strategic Initiatives. “Seasonally adjusted payroll jobs advanced slightly since July.”
Governor Gretchen Whitmer issued the following statement after the release of the latest economic numbers:
“Our economy is on the move, and this week’s Detroit Auto Show is the latest sign that Michigan is the best place to do business. We are competing for every project and every job, bringing big projects and bold investments to Michigan, and proving to the world what is possible with cutting-edge technology. 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. We will stay focused on competing for every job and project to shorten supply chains and make us less reliant on China, cut down on costly delays, and create opportunities in every region of our great state. Let’s keep getting it done.”
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