Michigan’s seasonally adjusted unemployment rate in October rose by two-tenths of a percentage point to 4.7%. Employment declined by 9,000 over the month, while unemployment increased by 6,000.
Key Points:
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- Unemployment rose for the seventh consecutive month.
- The over-the-month employment reduction of 0.2% matched the decrease seen nationally.
- Total employment advanced by 11.9% over the year, a gain of 3.5% larger than the national unemployment total increase.
- The statewide labor force participation rate decreased by one-tenth of a percentage point over the month.
- The private education and health services sector demonstrated the largest numerical employment gain, with employment increasing by 3,000.
- The financial activities sector had employment growth for the fourth consecutive month.
- The most pronounced over-the-year industry job gains occurred in government, construction, and private education and health services.
Detroit-Warren-Dearborn Metropolitan Statistical Area:
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- The seasonally adjusted jobless rate rose by one-tenth of a percentage point to 4.7%.
- Employment declined by 11,000, while unemployment advanced by 2,000.
- The jobless rate increased by 0.7% over the year.
- Employment fell by 38,000, and unemployment increased by 13,000 since October 2023.
Please click here to read the full monthly report by the Department of Technology, Management, and Budget.
