Michigan Unemployment Falls to 12-year Low

The state’s unemployment rate dropped 0.4 percentage points in December to 6.3 percent, the lowest the rate has been since the 6.2 percent rate of November 2002.

Employment was up 21,000 in December, at 4.437 million – still below the 2008 levels of prior to the Great Recession and the 4.7 million employed in November of 2002; however, down 2 percentage points in just the last year and down 2.7 percentage points from the 9 percent rate of August 2013.

Roughly 298,000 are unemployed, the first time since October 2001 that number has been below 300,000. Even the Detroit-Warren-Livonia labor market, the state’s largest and generally highest rate, fell to 7.5 percent – the lowest for that region since March 2008.

Professional and business services showed high gains of 3,000, with construction (2,000) and financial activities (2,000) right behind.

posted by PAA Online , Friday, January 23, 2015 10:09 AM
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