Overall October Revenue Falls
The Senate Fiscal Agency’s monthly revenue report was issued Thursday and showed collections to the General Fund and School Aid Fund totaled $2.6 billion for October. This number is $71.5 million below estimates and 6.2 percent below 2011 numbers. Often viewed as a sign of economic uptick based on consumer confidence, the state’s sales tax collections were up 4.2 percent from 2011 numbers, totaling $621.1 million in October.
Former Rep. Mueller Eyeing Senate Special
Former State Representative Chuck Mueller is considering throwing his hat in the ring for the expected special election to replace Senator John Gleason (D-Flushing). Senator Gleason will depart the upper chamber on January 1st after being elected Genesee County Clerk and Register of Deeds. Mr. Mueller was elected to the House in 1976.
October Unemployment Rate Falls
The Department of Technology, Management & Budget released numbers this week showing Michigan’s unemployment rate dropped in October, the second consecutive month of decrease. The jobless rate fell to 9.1 percent, 0.2 percent lower than September and 0.8 percent lower than the October 2011 rate of 9.9 percent.