Michigan jobless rate drops

Michigan's seasonally adjusted unemployment rate has fallen four-tenths of a point to 8.4 percent in the latest month as the workforce shrank while more held jobs.
AP Wire
Jan 23, 2014

The state Department of Technology, Management & Budget announced the December job figure Wednesday. It followed a 0.2-point drop in November.

Nationally, the seasonally adjusted unemployment rate fell 0.3 percent in December to 6.7 percent.

Michigan's jobless rate is down by a half-percent from one year earlier.

The state agency said Michigan's seasonally adjusted civilian workforce fell by 13,000 in the latest month to 4.694 million from November to December. It said the number of people working rose by 7,000 to 4.3 million.

The state said total employment in Michigan is up by 73,000 since December 2012.

Jobs report: http://1.usa.gov/1hkjUx0

Comments

Say no to new taxes

If you believe these numbers I've got a bridge over the Grand River I'd like to sell you.

bigdeal

I would never believe their false numbers, but I am interested in that bridge. If I buy it, I might just shut it down for a few days.

LessThanAmused

LOL! Do it! I'd suggest the Thursday thru Sunday of Coast Guard Festival week!

Former Grandhavenite

I don't see any reason to think the numbers are wrong. The unemployment rate has dropped nationwide for the past several years, so it would be odd if it didn't move downward in Michigan as well. Quite a few governmental and private organizations with completely different political viewpoints and funding sources have found the same thing.

The absolute numbers are inaccurate in the sense that they only reflect the labor force (people employed or actively looking for a job), and don't take into account "discouraged workers" who aren't actively looking. They've always measured it that way though, in good times and bad, so I've got to believe the movement relative to previous measures is real.

jlebrasseur

I am actively looking for a job (20 or so resumes sent out each week), yet I am not considered unemployed by the government because my 20 weeks of state unemployment ran out.

The numbers are badly skewed, and mark my words, next time they will show a massive drop as congress let EUC expire.

I'm guessing the true unemployment rate is at least 18-20%.

Former Grandhavenite

Sorry to hear the job search isn't going well.

There are quite a few different ways the government measures the unemployment rate, and for most of them you WOULD accurately be counted as unemployed. The unemployment numbers that the federal government releases on the first Friday of every month are the main ones that move the market, and that the other measures indirectly rely on. Those are based on a random sample to see whether people have jobs, or are looking for work, are they available to start now, etc. It doesn't have anything to do with whether someone's getting unemployment, etc.

You're right in saying that the 'true' unemployment rate is higher, and that's largely because people who have given up looking for work aren't counted as unemployed. Probably more detail than you wanted! I'm a labor statistician/economist so I work with the reports they release a bunch.

truthhurts

damn that snyder for turning michigan around

bigdeal

turning MI around?? In 47th place (3 from last) out of 50 best states for business. Areas that hurt Michigan's rating included business cost (the state ranked no. 38), labor supply (no. 48), economic climate (no. 47) and growth prospects (no. 47). Michigan is the only state in the U.S. to have seen its population decline over the past five years. http://www.forbes.com/places/mi/
Michigan is 49th in unemployment rankings. Out of 50 states. Do you have any links that really show where Dicky has turned anything economic around in this state, or are you also just blowing your smoke like others on this forum?

Tri-cities realist

With one of the highest unemployment rates, how can Michigan be ranked 48th in labor supply? That doesn't make sense, unless they are saying our labor force isn't "qualified" for the available jobs. Not a trick question, I'm just wondering how this can be.

Former Grandhavenite

You're right- they're essentially saying the Michigan labor force isn't well qualified for jobs. This takes into account a few factors, but the biggest reason for Michigan's low ranking is the low rate of graduate, undergrad, and community college graduation. Fewer people go to college, and of those who do, fewer graduate in whatever reference time period they're using for each level of education.

As recently as the early 90's, Michigan was ranked 13th according to one article I found, but it's declined since. The decline has been steady throughout the Engler, Granholm, and Snyder administrations. In my opinion if anyone is most to blame, it's John Engler since he started the whole trend of cutting state funding for education and making it more dependent on sales tax revenue. In the short term it probably helped the economy, but in the long term it cut the legs out from under the state.

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