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Michigan jobless rate recedes in August
September 14, 2022
LANSING, Mich. -- Michigan’s seasonally adjusted jobless rate edged down by one-tenth of a percentage point between July and August to 4.1 percent, according to data released today by the Michigan Department of Technology, Management & Budget. Statewide employment inched up by 1,000, while total unemployment was reduced by 1,000, resulting in an unchanged workforce over the month.
“Michigan’s labor market continued to remain steady in August with little change in employment and unemployment,” said Wayne Rourke, associate director of the Bureau of Labor Market Information and Strategic Initiatives. “Seasonally adjusted payroll jobs advanced slightly since July.”
The jobless rate for the U.S. rose by two-tenths of a percentage point over the month to 3.7 percent. Michigan’s August unemployment rate was four-tenths of a percentage point above the national rate. Over the year, the national rate was reduced by 1.5 percentage points, while Michigan’s jobless rate fell by 1.9 percentage points since August of 2021.
Labor force trends and highlights
- Michigan’s total unemployment level edged down by 1,000, or 0.5 percent, over the month, while the national unemployment total advanced by 6.1 percent since July.
- The statewide over-the-year employment gain of 3.4 percent was comparable to the national employment increase since August of 2021 (+3.6 percent).
- The August statewide labor force participation rate of 60.1 percent was unchanged for the third consecutive month. Similarly, Michigan’s employment-population ratio remained unchanged at 57.6 percent during August. Both August 2022 measures remained below their February 2020 values (61.1 percent and 58.8 percent, respectively).
Detroit metro area jobless rate decreases during August
The Detroit-Warren-Dearborn Metropolitan Statistical Area’s (MSA) seasonally adjusted unemployment rate fell to 3.8 percent over the month. Reductions in both the Detroit MSA employment and unemployment totals resulted in a workforce drop of 8,000 since July.
The Detroit metro area jobless rate receded by 2.6 percentage points over the year. Employment advanced by 52,000, while unemployment fell by 53,000 since August of 2021.
Michigan nonfarm jobs edge up in August
According to the monthly survey of employers, Michigan seasonally adjusted payroll employment rose by 4,000, or 0.1 percent, over the month, resulting in a nonfarm job total of 4,357,000. Job changes were minor, with no major industry exhibiting an absolute employment change greater than 4,000 over the month.
Industry employment trends and highlights
- Statewide total payroll jobs rose for the third consecutive month during August.
- Michigan’s professional and business services sector exhibited the largest over-the-month reduction in employment, with jobs receding by 4,000 since July.
- The state’s leisure and hospitality sector exhibited an employment increase for the second consecutive month during August.
- Statewide nonfarm jobs in August were 96,000 or 2.2 percent below their February 2020 pre-pandemic level.
- Michigan total nonfarm jobs advanced by 135,000, or 3.2 percent, over the year.
- On a numerical basis, the most pronounced over-the-year industry job gains occurred in the state’s manufacturing sector and professional and business services sector, with both industries demonstrating employment advances of 31,000 since August of 2021.
For more detailed information, including data tables, view the full release.###