Unemployment Rate Remains Steady

Jan 26, 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.

December’s seasonally adjusted unemployment rate remained unchanged from the prior month at 4.3%. During the month, employment advanced by 8,000, while unemployment was unchanged over the month.

Key Points:

    • Total employment slightly grew by 0.2%.
    • The statewide labor force participation rate advanced by one-tenth of a percentage point to 62.2%.
    • The December labor force participation rate reached a 14-year high.
    • The Detroit-Warren-Dearborn Metropolitan Statistical Area’s seasonally adjusted unemployment rate also remained unchanged from the prior month at 4.1%.
    • The state’s leisure and hospitality industry exhibited the largest numerical over-the-month employment gain in December, adding 4,000 jobs.
    • The preliminary annual average unemployment rate for 2023 was 4.0%, which is two-tenths of a percentage point below the annual 2022 rate.
    • The 2023 rate was 6.0% below the 2020 pandemic-related annual rate of 10.0%.
    • Last year’s annual rate was one-tenth of a percentage point below the 2019 pre-pandemic annual average of 4.1%.
    • The Detroit-Warren-Dearborn Metropolitan Statistical Area’s preliminary annual average jobless rate in 2023 was 3.6%, which was 0.2% below the 2022 rate.

To read the full jobs report from the Department of Technology, Management, and Budget, please click here.

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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