Lansing – Michigan’s seasonally adjusted unemployment rate in May increased slightly over the month by two-tenths of a percentage point to 8.5 percent, according to data released Wednesday (June 13) by the Michigan Department of Technology, Management & Budget (DTMB). The number of unemployed rose by 6,000 over the month and total employment edged downward by 2,000. The net result was a 4,000 increase in the state’s labor force.
The Michigan jobless rate in May 2012 was two and one-tenth percentage points below the state’s May 2011 rate of 10.6 percent. The national jobless rate decreased by eight-tenths of a percentage point over this period. The state’s unemployment rate in May remained slightly above the national rate of 8.2 percent. The U.S. jobless rate also increased in May, advancing by one-tenth of a percentage point.
“Michigan’s labor market in May and throughout early 2012 has been stable,” said Rick Waclawek, director of the Bureau of Labor Market Information and Strategic Initiatives. “The minor upturn in the state’s jobless rate in May was partially due to individuals entering or reentering the workforce looking for jobs.”
Monthly Labor Force Trends & Highlights
- May marked the first monthly jobless rate increase for Michigan since May 2011. Prior to May 2012, the state’s rate had fallen for nine consecutive months.
- Although the state’s unemployment rate edged upward in May, it was the second lowest rate for 2012, matching the March rate.
- Michigan’s workforce rose again in May, marking the fifth consecutive month of gains. The state had not seen a run of five monthly labor force advances since late 2005. From December to May, the state’s workforce has risen by 33,000 or 0.7 percent. Over the year, Michigan’s labor force was little changed.
- Michigan’s total employment level declined slightly in May, ending a string of nine consecutive monthly gains since August 2011. Since May 2011, employment rose in Michigan by 94,000 or 2.3 percent. Total employment nationwide grew by a lesser 1.8 percent over the same period.
- From May 2011 to May 2012, the number of unemployed in Michigan fell by 98,000 or nearly 20 percent. Nationally, unemployment declined by 8 percent since May 2011.
Source: News release from Michigan Department of Technology, Management & Budget