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Wednesday, January 19, 2011

Michigan jobless rate drops to 11.7% but employment growth continues to be low

Michigan entrance signImage via Wikipedia
Michigan's unemployment rate drops
to 11.7 percent but not from the result
from a large number of new jobs being
created in the state.

As more of Michigan long-term unemployed recipients and particularly 99ers drop off the states’ jobless rolls, the seasonally adjusted jobless rate for December dropped for the fourth consecutive month. 

Michigan jobless rate is now down to 11.7 percent, down from 14.5 percent a year ago and a 0.7 percent drop from November 2010 according to thDepartment of Energy, Labor and Economic Growth. The national jobless rate decreased by half a percentage point over this same period.
 
Unemployment in the state during December fell by 42,000. Total employment edged upward by a low 5,000 new job opportunities; giving evidence that the deduction in the jobless rate is probably not the result of many state residents finding new work.  The numbers combined resulted in a 37,000 reduction in the state’s labor force over the month.

“The drop in the state’s December jobless rate primarily reflected a reduction in the number of unemployed individuals seeking jobs.  Employment levels in Michigan have been flat since the summer,” said Rick Waclawek, director of DELEG’s Bureau of Labor Market Information and Strategic Initiatives. “Overall in 2010, Michigan’s labor market stabilized after one of the worst labor market years on record in 2009.”

Michigan's unemployment rate average for 2010 was 13.1 percent, which marked the first decrease in the annual jobless rate since 2005. The average for 2009 was 13.6 percent.

“The numbers indicate we’re moving in the right direction than that of the nation, but it’s not good enough until all Michiganders are back to work,” said Michigan Governor Rick Snyder (R) to MlLive. “Economic development, diversification, and improving our business climate are key to boosting our labor force and increasing employment in all sectors of our economy.”

Snyder is set to give his first State of the State address at the Lansing, Michigan Capitol this evening at 7:00pm EST, since being widely elected Governor in November 2010 over Democratic Candidate Ving Bernero. Within the speech, it is expected that Governor Snyder will address ways to deal with the states $80 Billion dollar debt by marking cuts to the states’ social programs, state workers’ wages/benefits and cutting Michigan’s Business Tax.

From December 2009 to December 2010, the number of unemployed in Michigan fell by 20.6 percent while nationally, unemployment declined by only 4.8 percent over the same period, according to DELEG data.

Michigan’s payroll jobs were little changed in December, declining slightly by 7,000 to 3,832,000. In addition state’s payroll jobs edged down by 13,000 or 0.3 percent, from December 2009-2010, showing that employers are still hesitant on adding new workers and opening employment opportunities. 

One of the few surprise areas to show significant job gains was the state’s manufacturing sector, which added 11,000 jobs, including recent added investments by General Motors, Ford and Chrysler LCC.

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