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ICYMI: Michigan Business Beat | Shibani Putatunda, Michigan DTMB - Latest Analysis on Michigan Jobless

Michigan Business Network
October 31, 2024 3:15 PM

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Jeffrey Mosher welcomes back Shibani Putatunda, Economic Specialist, with the Michigan Center for Data and Analytics, within
DTMB - the Michigan Department of Technology, Management and Budget for the State of MI, Lansing, MI

Hear Shibani and Jeffrey discuss Michigan labor market update for August: unemployment trends, industry job shifts, regional data, and key takeaways from MI’s DTMB analysis in the SoundCloud Podcast shared below:


What is going on in Michigan’s labor market this month

How does Michigan’s unemployment rate compare with the U.S. and other states during August?
 
What industries saw the greatest change in the number of jobs during August?
 
What happened in the Michigan regions this month?
 
What would you say is the key takeaway for Michigan’s labor market in August?
 
Where can our Michigan business community find more information on Michigan’s labor market?

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DTMB also release this connected to her report.

Regional Michigan unemployment rates decrease seasonally during August

LANSING, Mich. – Not seasonally adjusted jobless rates decreased in all 17 Michigan labor market areas over the month, according to data released today by the Michigan Department of Technology, Management & Budget.

“Michigan regions displayed typical seasonal jobless rate reductions in August, and payroll jobs advanced throughout most areas,” said Wayne Rourke, labor market information director for the Michigan Center for Data and Analytics. “However, unemployment rates were elevated compared to August 2023, similar to the national and statewide trend.”

Michigan regional unemployment rates ranged from 4.0 to 5.9 percent during August, with a median rate reduction of 0.6 percentage points. The largest over-the-month rate decrease occurred in the Detroit metropolitan statistical area (MSA).  

Sixteen Michigan labor market areas demonstrated unemployment rate gains over the year, with a median rate increase of 0.6 percentage points. The Monroe MSA exhibited the largest over-the-year rate gain (+1.4 percentage points). The Detroit metro area was the only region to demonstrate a minor jobless rate reduction since August 2023 (-0.1 percentage points).   

Total employment down over month and year

Sixteen Michigan labor market areas demonstrated employment reductions over the month, with a median decrease of 1.1 percent. The most pronounced over-the-month employment decline occurred in the Northwest Lower Michigan region (-2.5 percent).

Thirteen Michigan regions experienced employment decreases over the year, with a median reduction of 0.9 percent. Three Michigan labor market areas displayed employment advances, and employment remained unchanged in the Bay City MSA since August 2023.

Regional labor force levels down over month, mixed over year

Workforce levels decreased in all 17 Michigan regions over the month, with a median decrease of 1.7 percent. The largest over-the-month labor force reduction occurred in the Northwest Lower Michigan region (-2.9 percent).    

Nine regions exhibited labor force gains over the year, with a median increase of 0.6 percent. Eight Michigan regions demonstrated workforce reductions since August 2023.   

Regional payroll employment advances in August

According to the monthly survey of employers, Michigan not seasonally adjusted nonfarm jobs increased by 9,000, or 0.2 percent, during August. The largest over-the-month employment gain occurred in the manufacturing (+6,000) sector, as employment rebounded from seasonal July job reductions.   

Payroll jobs increased in nine Michigan metro areas over the month, with a median advance of 0.4 percent. The largest employment gain occurred in the Midland MSA (+1.0 percent). Payroll employment fell in three areas during August and remained unchanged in the Jackson and Flint MSAs.  

Michigan total nonfarm employment rose by 42,000, or 0.9 percent, over the year. Eight metro areas displayed payroll gains during this period, while four regions exhibited nonfarm employment reductions. Payroll jobs were unchanged in the Monroe and Jackson metro areas since August 2023.

County jobless rates down over month, up over year

Eighty-two Michigan counties demonstrated jobless rate reductions over the month, with a median decrease of 0.6 percentage points. Seventy-nine Michigan counties exhibited unemployment rate gains over the year.

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

Note: Data in this release is not seasonally adjusted. As a result, employment and unemployment trends may differ from previously released Michigan seasonally adjusted data.

A breakdown of not seasonally adjusted August workforce estimates for Michigan and its 17 major labor market areas follows, along with a ranking of county jobless rates for August.       

Note to editors: Please ensure that the source for state unemployment rates reads “Michigan Department of Technology, Management & Budget.”

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