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DTMB | Michigan Unemployment Rate Remains Stable in May

Michigan Business Network
June 20, 2024 12:00 PM

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LANSING, Mich. – Michigan’s seasonally adjusted jobless rate remained at 3.9 percent for the fourth consecutive month during May, according to data released today by the Michigan Department of Technology, Management & Budget. Employment and unemployment in the state both advanced over the month, resulting in a labor force gain of 3,000 since April.

“Michigan continued to display a strong labor market during May,” said Wayne Rourke, labor market information director for the Michigan Center for Data and Analytics. “Payroll jobs advanced for the fourth consecutive month.”

The national jobless rate rose by 0.1 percentage points to 4.0 percent over the month. Michigan’s May unemployment rate was one-tenth of a percentage point below the U.S. rate. Over the year, both the national and Michigan unemployment rates advanced by 0.3 percentage points.       

Labor force trends and highlights

  • Employment in the state was essentially unchanged during May, while the national employment total receded by 0.3 percent.
  • Unemployment in Michigan rose by 8.8 percent over the year, a nearly identical gain to the unemployment increase seen nationally (+8.7 percent).
  • The May statewide labor force participation rate was stable at 62.3 percent over the month. Michigan’s employment-population ratio also remained constant, staying at 59.9 percent.

Detroit metro area unemployment rate edges up over month

The Detroit-Warren-Dearborn Metropolitan Statistical Area’s (MSA) seasonally adjusted unemployment rate rose by 0.1 percentage points over the month to 3.9 percent during May. The region’s labor force was nearly unchanged, edging up by 1,000 since April.

The Detroit MSA jobless rate advanced by 0.7 percentage points over the year. Employment rose by 15,000, and unemployment increased by 16,000 since May 2023.

Michigan nonfarm jobs increase in May

According to the monthly survey of employers, Michigan seasonally adjusted payroll employment increased by 8,000, or 0.2 percent, over the month. Job gains mainly occurred in the state’s leisure and hospitality sector while most other industries recorded only minor job changes.

Industry employment trends and highlights

  • Michigan total nonfarm jobs advanced for the fourth consecutive month during May.
  • Michigan’s leisure and hospitality sector exhibited the largest numerical employment gain over the month, with employment increasing by 6,000 since April.
  • Michigan seasonally adjusted total nonfarm payroll jobs rose by 41,000, or 0.9 percent, over the year.
  • Industries with the most pronounced over-the-year numerical job gains included government (+17,000), private education and health services (+17,000), and construction (+16,000).

For more detailed information, including data tables, view the full release.

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Gov. Whitmer Celebrates New Data Showing Michigan's Low Unemployment Rate is Better than National Average    

LANSING, Mich. — Today, Governor Gretchen Whitmer issued the following statement on the latest economic data showing Michigan’s May unemployment rate fell below the national average.    

“Michigan’s low unemployment rate of 3.9% is now below the national average for the first time since May 2023. Michiganders are rolling up their sleeves and working hard to provide for themselves and their families, growing our economy and helping our communities thrive.”   

“To build on our strong momentum, we must pass another balanced budget that delivers on the kitchen-table issues and strengthen our economic development toolkit. Let’s keep bringing good jobs and critical supply chains home, support small business owners as they look to expand, and help workers get the education and skills they need to get even better-paying jobs.”    

“Together, we will ensure everyone can ‘make it’ in Michigan.”   

A Strong Jobs Report  

  • Michigan’s unemployment rate fell below the national average, remaining at 3.9% for the fourth consecutive month in May. 
  • In May, Michigan’s total labor force grew to 5,054,000, increasing by 53,000 in May 2023.  
  • Michigan payroll jobs increased for the fourth consecutive month, adding 8,000 jobs in May. Over the year, payroll jobs in Michigan rose by 41,000, or 0.9 percent. 
  • The leisure and hospitality sector exhibited the largest numerical employment gain this month, adding 6,000 jobs.   

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Michigan Business Network is an online broadcasting company that provides knowledge, news, and insights into Michigan’s businesses, industries, and economy.