Lansing – Michigan’s seasonally adjusted unemployment rate in October fell by five-tenths of a percentage point to 10.6 percent, according to data released today by the Michigan Department of Technology, Management & Budget (DTMB). The number of unemployed in the state decreased by 24,000 over the month, while total employment increased moderately by 8,000. Michigan’s work force recorded a net decline of 17,000 in October.
The Michigan jobless rate in October 2011 was a full percentage point below the October 2010 rate of 11.6 percent. The national jobless rate decreased by seven-tenths of a percentage point over this period.
“Unemployment in Michigan fell in October, with a slight net job gain,” said Rick Waclawek, director of the Bureau of Labor Market Information and Strategic Initiatives. “The jobless rate decline over the month was due primarily to a reduction in the number of unemployed individuals actively seeking employment.”
Monthly Labor Force Trends & Highlights
- Michigan’s jobless rate declined for the second consecutive month in October, countering an upward trend that occurred from May through August. In that period, the state’s rate rose by a full percentage point. Since August, Michigan’s rate edged down by six-tenths of a percentage point.
- Through the first ten months of the year, Michigan’s 2011 average jobless rate stood at 10.6 percent.
- Michigan’s labor force decreased again in October, marking the seventh consecutive monthly drop dating back to April. Since March, the state’s workforce has fallen by 70,000 or 1.5 percent.
- After declining for five months in mid-2011, total employment has edged up slightly in Michigan over the last two months.
- From October 2010 to October 2011, the number of unemployed fell by ten percent in Michigan. Nationally, unemployment decreased by seven percent over the same period.
Source: Michigan Department of Technology, Management & Budget