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Monday, June 20, 2011

Gallup: U.S. Unemployment rate decreases to 8.9% for mid-June 2011; Michigan jobless rate increases

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Gallup notes the U.S. Jobless rate is
virtually unchanged from last year.
According to Gallup, whom regularly perform surveys to research the true unemployment rate, notes that for mid-June the nations' jobless figure stood at 8.9%. The June figure was down 0.3% from May 2011 total of 9.2%.

Gallup measures the Underemployment rate, which includes both unemployed individuals and those working part-time but desiring full-time work, reached into double-digit figures at 18.6 percent in mid-June. 

The mid-June rate of unemployment showed a slight decrease from May 2011 by 0.6%, at 19.2%. Ironically, May's figure was as high as it was in 2010.

A modest improvement in job market conditions in mid-June from the end of May, was partly a result of increased spring -based seasonal hiring, according to Gallup. The survey noted that 2011 U.S. unemployment situation is statistically similar to last year, thus virtually unchanged.

Meanwhile, despite Governor Rick Snyder's 1.8 billion dollars worth of tax cuts for the so-called 'job creators' while increasing taxes on seniors, poorer state citizens and the middle class; Michigan's unemployment rate took a turn in the wrong direction, increasing to 10.3% for May 2011.

Michigan newest jobless individuals will not be eligible to receive 26 weeks of state-funded unemployment benefits, but instead only 20 weeks. One of the many laws pushed though by Governor Snyder and Republican state House and Senate members, changed the number of weeks jobless individuals could claim initial unemployment benefits, with a new law passed in March 2011.
"The state’s labor market situation improved significantly throughout 2010 into early 2011," said  Rick Waclawek, director of the Bureau of Labor Market Information and Strategic Initiatives in a statement. “However, since February 2011, Michigan’s unemployment rate has been essentially flat while payroll jobs declined slightly.”
Michigan's seasonally adjusted payroll jobs declined 13,000 to 3.9 million, in May. Governmental jobs shrank by 8,000 over the month, due to a combination of retirement with positions not being re-filled with jobless individuals. 

Additional job losses occurred in Michigan's leisure and hospitality services, transportation equipment manufacturing, and education and health services sector field, according to a monthly survey of employers.

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