Michigan’s May Unemployment Rate Edges Upward
LANSING (WWJ/AP) – For the first time in 9 months, Michigan’s unemployment has gone up — rising 0.2 percentage points.
The state said Wednesday that May’s seasonally adjusted unemployment rate stood at 8.5 percent, compared with April’s 8.3 percent.
The state Department of Technology, Management and Budget says the jobless rate has fallen 2.1 percentage points from the rate of May 2011. The national unemployment rate fell 0.8 percentage points in that period.
The national jobless rate also rose slightly last monthly, from 8.1 percent to 8.2 percent.
“Michigan’s labor market in May and throughout early 2012 has been stable,” said Rick Waclawek, director of the Bureau of Labor Market Information and Strategic Initiatives. “The minor upturn in the state’s jobless rate in May was partially due to individuals entering or reentering the workforce looking for jobs.”
Monthly Labor Force Trends & Highlights (Provided by the State):
• May marked the first monthly jobless rate increase for Michigan since May 2011. Prior to May 2012, the state’s rate had fallen for nine consecutive months.
• Although the state’s unemployment rate edged upward in May, it was the second lowest rate for 2012, matching the March rate.
• Michigan’s workforce rose again in May, marking the fifth consecutive month of gains. The state had not seen a run of five monthly labor force advances since late 2005. From December to May, the state’s workforce has risen by 33,000 or 0.7 percent. Over the year, Michigan’s labor force was little changed.
• Michigan’s total employment level declined slightly in May, ending a string of nine consecutive
The civilian labor force rose by 4,000 to 4.663 million in May, and the number of people unemployed rose by 6,000 to 395,000.
(TM and © Copyright 2012 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2012 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)