Michigan jobless rate remains steady in June

LANSING, Mich. (WLUC) – Michigan’s seasonally adjusted unemployment price in June was unchanged for the third consecutive month at 4.3 p.c, in response to knowledge launched Wednesday by the Michigan Division of Know-how, Administration & Finances.

Statewide employment edged up by 7,000, whereas unemployment was unchanged, leading to a minor workforce advance of seven,000 since Could.

“Michigan’s labor market continued to stay steady in June,” stated Wayne Rourke, affiliate director of the Bureau of Labor Market Info and Strategic Initiatives. “Each employment and payroll jobs edged up barely over the month, whereas the unemployment price was unchanged.”

The U.S. jobless price remained unchanged for the fourth consecutive month at 3.6 p.c. Michigan’s June unemployment price was seven-tenths of a share level larger than the nationwide price. The nationwide jobless price receded by 2.3 share factors over the yr, whereas the statewide price fell by 2.0 share factors over the identical interval.

Labor pressure traits and highlights

• Michigan’s labor pressure edged up by 0.1 p.c since Could. In distinction, the nationwide workforce declined by 0.2 p.c over the month.
• Employment within the state rose by 3.7 p.c over the yr, a rise six-tenths of a share level under the employment achieve seen nationally (+4.3 p.c).
• The statewide labor pressure participation price, at 60.1 p.c, and the employment-population ratio, at 57.5 p.c, had been little modified over the month, edging up by one-tenth of a share level every since Could. Each June 2022 measures remained under their February 2020 values (61.1 p.c and 58.8 p.c, respectively).
• Michigan’s second quarter common unemployment price of 4.3 p.c was 0.4 share factors under the 2022 first quarter common price of 4.7 p.c.

Detroit metro space unemployment price declines over month

The Detroit-Warren-Dearborn Metropolitan Statistical Space’s (MSA) seasonally adjusted jobless price decreased by two-tenths of a share level over the month to 4.4 p.c. Whole employment and whole unemployment within the Detroit MSA each inched down over the month, leading to a workforce decline of -5,000 since Could.

The Detroit metro space unemployment price fell by 2.3 share factors over the yr. Since June 2021, the variety of employed superior by 71,000, and the quantity of unemployed fell by 47,000.

Michigan nonfarm jobs advance in June

In accordance with the month-to-month survey of employers, Michigan seasonally adjusted nonfarm employment elevated by 10,000, or 0.2 p.c, over the month, leading to a payroll job whole of 4,327,000. Minor job good points occurred throughout a number of statewide industries.

Trade employment traits and highlights

• Probably the most pronounced numerical over-the-month job good points occurred within the skilled and enterprise companies sector (+7,000) and the manufacturing sector (+4,000).
• Michigan’s authorities sector exhibited the biggest lower in business employment (-5,700) over the month, as faculties and universities continued to shut for the summer season season.
• Statewide whole nonfarm payroll jobs in June had been -126,000 or 2.8 p.c under their February 2020 pre-pandemic degree.
• Michigan’s whole payroll jobs rose by 147,000, or 3.5 p.c, over the yr, with employment good points occurring within the majority of Michigan industries.
• On a numerical foundation, essentially the most pronounced over-the-year job good points occurred within the skilled and enterprise companies (+34,000), manufacturing (+30,000), and leisure and hospitality (+29,000) industries.

For extra detailed info, together with knowledge tables, view the complete launch.

Copyright 2022 WLUC. All rights reserved.