Michigan’s jobless rate showed another sign of economic strength, declining month-over-month in May to 3.7%, while the national rate increased.
Key Points:
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- The U.S. rate increased by three-tenths of a percentage point to 3.7%.
- This is the first time Michigan’s jobless rate has matched the national rate since June 2018.
- The labor force of 4,895,000 was the largest since July 2020.
- Michigan’s payroll job increase of 15,000 in May was above the average monthly gain of 8,000 over the prior six months.
- On a percentage basis, the state’s leisure and hospitality sector demonstrated the largest over-the-year employment increase of 4.3%.
- The Detroit-Warren-Dearborn Metropolitan Statistical Area’s employment level grew by 11,000 last month, while unemployment declined by 3,000.
For more information, please click here to read the full report by the Department of Technology, Management, and Budget.
