October Unemployment Rate Rises

Nov 22, 2024

by Liz Gullett

As MLC’s Communications and Social Media Manager, Liz Gullett keeps clients informed and up-to-date on the goings on in Lansing and the Capitol.

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:

    • 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:

    • 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.

 

Michigan Legislative Consultants is a bipartisan lobbying firm based in Lansing, Michigan. Our team of lobbyists and procurement specialists provide a wide range of services for some of the most respected companies in America. For more on MLC, visit www.mlcmi.com or connect with us on LinkedIn and Twitter.

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