Michigan’s seasonally adjusted jobless rate decreased by one-tenth of a percentage point to 3.9 percent between January and February, according to data released today by the Michigan Center for Data and Analytics. Employment in the state edged up by 2,000, while unemployment was reduced by 4,000 over the month. The statewide workforce inched down by 1,000 in February.
“Michigan’s unemployment rate and labor force levels remained relatively stable in February,” said Wayne Rourke, labor market information director for Michigan’s Center for Data and Analytics. “Payroll jobs showed significant gains over January.”
The national jobless rate advanced by 0.2 percentage points over the month to 3.9 percent. Michigan’s unemployment rate matched the U.S. unemployment rate during February. Over the year, the U.S. unemployment rate rose by 0.3 percentage points, while Michigan’s rate increased by one-tenth of a percentage point since February 2023.
Labor force trends and highlights
After eight months of surpassing the national rate, Michigan’s jobless rate matched the U.S. rate (3.9 percent) during February 2024.
The statewide unemployment level receded by 2.0 percent over the month, while the national unemployment total expanded by 5.5 percent since January.
Michigan’s workforce rose by 1.9 percent over the year, an increase over double the labor force increase seen nationally (+0.7 percent).
The February statewide labor force participation rate was reduced by one-tenth of a percentage point over the month to 62.2 percent. Michigan’s employment-population ratio remained unchanged at 59.8 percent during February.
