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Michigan Unemployment Stats And News
Michigan Unemployment Stats
Current and Historical Michigan Stats Analysis
As of September 2016, Michigan's unemployment rate is about 4.5 percent. This is down from a peak of 14.9 percent in June 2016. In fact, in March 2016, Michigan's unemployment rate dipped below the national average. This isn't far from it's lowest figure of 3.2 percent, set in March 2000.
Michigan’s decreasing unemployment rate is heavily related to the increasing success of the automobile sector. For nearly a century, this has been Michigan’s most prominent industry. The bailout money provided during the economic recession of 2009 helped keep the state afloat and kept the auto industry from collapse.
Why Unemployment Stats Are Valuable
Unemployment stats are useful for Michigan residents looking for a career after losing a position. It helps you understand which fields and industries are most successful in Michigan, and can help pinpoint you to a potential career you may have overlooked. It can also give you a guide to understanding the ups-and-downs of the various industries and steer you away from areas which may be declining.
Michigan Unemployment Stats Resources
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For more information about Michigan unemployment statistics, you can access the Bureau Of Labor Of Labor Statistics home page. Here, you can get information on seasonal unemployment rates in large cities, a breakdown of unemployment demographics based on sex, race, and marital status, data on various counties, and adjustable graphs that give you a visual understanding of the unemployment trends that have affected Michigan.
Michigan Unemployment News
Michigan Unemployment in the News
The biggest news in the state's unemployment is the decrease of the rate to its lowest level in 15 years, with 4.5 percent in August 2016. This is 0.4 percent lower than the national average and the lowest since January 2001 (4.4 percent). However, this decreased rate also corresponds with a decrease in labor force and employment, with the total number of employed falling by 20,000 and the unemployed falling by 8,000.
These decreasing numbers reflect the increasing retirement rate of “Baby Boomers,” as well as a general decline in Michigan's population, with people moving out of state for various reasons. However, Governor Rick Snyder noted that 475,000 private sector jobs were created in the last five years, a promising development that is “something to be proud of.”