Michigan unemployment rate increased during November – The County Press

LANSING — Michigan’s seasonally adjusted jobless rate increased by one-tenth of a percentage point over the month to 4.3%, according to data released Wednesday by the Michigan Dept. of Technology, Management & Budget. Employment in the state decreased by 5,000, while unemployment edged up by 3,000, resulting in a minor workforce reduction of 2,000 between October and November.

“Despite a minor jobless rate increase, Michigan’s labor market remained stable over the month,” said Wayne Rourke, associate director of the Bureau of Labor Market Information and Strategic Initiatives. “Payroll jobs rose by 14,000 during November.”

The national jobless rate remained unchanged over the month at 3.7%. Michigan’s November unemployment rate was 0.6 percentage points above the U.S. rate. The national rate fell by half a percentage point over the year, while Michigan’s jobless rate decreased by nine-tenths of a percentage point since November 2021.

Labor force trends and highlights

• Michigan’s workforce was essentially unchanged over the month, while the national labor force edged down by one-tenth of a percent.

Total unemployment in the state advanced by 1.5% during November. In contrast, the U.S. unemployment level was reduced by 0.8%.

• Michigan’s over-the-year employment increase of 2.3% was three-tenths of a percentage point larger than the national employment advance since November 2021 (+2.0%).

• The November statewide labor force participation rate edged down for the second consecutive month by one-tenth of a percentage point to 59.9%, while Michigan’s employment-population ratio remained unchanged at 57.4%.

• Seven statewide super-sectors demonstrated employment advances on a percentage basis, led by the leisure and hospitality and construction industries (+1.8%).

• Employment advances across multiple industries were partially offset by payroll job decreases in other services (-2,000) and financial activities (-1,000).

• Payroll jobs receded in the financial activities sector for the third consecutive month during November.

• Michigan total payroll jobs advanced by 110,000, or 2.6%, over the year.

• The largest over-the-year industry employment gain on a numerical basis occurred in the state’s professional and business services sector (+19,000).

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