Michigan’s seasonally adjusted jobless rate decreased by one-tenth of a percentage point to 3.6 percent during June, according to data released today by the 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,” said Wayne Rourke, labor market information director of the Michigan Center for Data and Analytics. “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 percent 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 percent 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 percent was half a percentage point below the jobless rate seen in the prior quarter (4.2 percent).
The June statewide labor force participation rate increased by two-tenths of a percentage point to 60.7 percent over the month, while Michigan’s employment-population ratio increased by 0.3 percentage points to 58.6 percent.
