(The Center Square) – Michigan’s seasonally adjusted jobless rate decreased by one-tenth of a percentage point to 3.6% during June, according to data released by the state’s Department of Technology, Management & Budget.
Total employment increased by 26,000, while unemployment edged down by 3,000, resulting in a labor force gain of 23,000 over the month.
“Michigan’s labor market continued to remain steady in June with little change in employment and unemployment,” labor market information director of the Michigan Center for Data and Analytics Wayne Rourke said in a statement. “Seasonally adjusted payroll jobs also remained stable over the month.”
The national unemployment rate inched down by one-tenth of a percentage point to 3.6 % between May and June. For the second consecutive month, Michigan’s jobless rate matched the national rate. The U.S. unemployment rate was unchanged at 3.6% over the year, while Michigan’s rate receded by four-tenths of a percentage point since June 2022.
Labor force trends and highlights
Michigan’s jobless rate fell for the fourth consecutive month during June.
Michigan’s total employment level advanced by 0.6 percent over the month, an increase four-tenths of a percentage point larger than the national employment gain (+0.2 percent).
Michigan’s second-quarter average unemployment rate of 3.7% was half a percentage point below the jobless rate seen in the prior quarter (4.2%).
The June statewide labor force participation rate increased by two-tenths of a percentage point to 60.7% over the month, while Michigan’s employment-population ratio increased by 0.3 percentage points to 58.6%.
The Detroit-Warren-Dearborn Metropolitan Statistical Area’s seasonally adjusted employment level rose by 10,000 between May and June, while unemployment declined by 1,000, resulting in a minor labor force gain of 9,000 and a jobless rate reduction of one-tenth of a percentage point during June.
The Detroit MSA unemployment rate receded by six-tenths of a percentage point over the year. Employment rose by 27,000, and unemployment fell by 10,000. The region’s labor force advanced by 17,000 since June 2022.
According to the monthly survey of employers, Michigan seasonally adjusted nonfarm jobs were essentially unchanged over the month, edging up by 2,000.
Industry employment trends and highlights
Michigan’s trade, transportation, and utilities industry demonstrated the largest numerical payroll employment decrease over the month (-4,000).
Nonfarm jobs in the state’s professional and business services sector rose for the fourth consecutive month, with employment advancing by 11,000 since February 2023.
Over the year, Michigan’s nonfarm employment total rose by 76,000, or 1.7%.
Michigan’s government sector (+22,000) was the largest numerical over-the-year payroll job gain.
Payroll jobs increased by 24,000 in the second quarter of 2023, similar to the 25,000 jobs added in the first quarter.
