Michigan’s seasonally adjusted jobless rate declined by two-tenths of a percentage point to 4.8 percent in July, according to data released today by the Michigan Department of Technology, Management & Budget. Statewide total employment inched up by 4,000, while the number of unemployed decreased by 8,000, resulting in a minimal workforce reduction of 4,000 since June.
The U.S. unemployment rate fell significantly by half a percentage point between June and July to 5.4 percent. Michigan’s July unemployment rate was 0.6 percentage points below the national rate. Over the year, the U.S. rate receded by 4.8 percentage points, while the statewide rate decreased by 4.2 percentage points.
“Michigan’s labor market continued to recover during July,” said Wayne Rourke, associate director of the Bureau of Labor Market Information and Strategic Initiatives. “The unemployment rate moved to the lowest level since March 2020, and the state recorded the largest monthly payroll job gain since February 2021.”
Governor Whitmer had this reaction to the jobless numbers:
“Michigan’s job numbers are headed in the right direction. Our unemployment rate is below the national average and businesses are staffing up fast. Despite our seven months of decreasing unemployment, however, we still have a lot of work left to do to help every family, community, and small business participate in our economic jumpstart. Right now, we have an unprecedented opportunity to use the massive influx of federal funds we have received to make tangible, lasting investments in the kitchen-table issues that impact Michigan families and small businesses most—childcare, skills training, job creation, housing, and more.”
Monthly and annual labor force trends and highlights
- Michigan’s employment level increased for the fifth consecutive month. Employment has advanced by 36,000 since February.
- Michigan’s total number of unemployed fell by 3.4 percent in July, a decrease less than half of what was recorded nationwide (-8.2 percent).
- Over the year, statewide employment edged up by 2.0 percent, while the U.S. employment total advanced by 6.2 percent.
Michigan’s July 2021 jobless rate remains above pre-pandemic levels
- Despite steady advances so far in 2021, Michigan’s employment count in July remained 256,000, or 5.4 percent, below the February 2020 pre-pandemic level.
- Unemployment in Michigan was 43,000, or 23.2 percent, above the February 2020 level.
- The July 2021 jobless rate of 4.8 percent was 1.1 percentage points above the pre-pandemic February 2020 rate.
