For only the third time since the 1970s, Michigan’s unemployment rate last month dropped below 4%. The June 2023 rate declined by one-tenth of a percentage point to 3.6%.
Key Points:
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- The June rate was the lowest it’s been in 23 years.
- The labor force grew by 23,000 in June and increased by 85,000 overall for the year.
- 76,000 jobs have been added thus far in 2023.
- Total employment increased by 26,000 during the month, while unemployment declined by 3,000.
- The labor force participation rate was 60.7% for the month.
For more information from the monthly jobs report, please click here.
