Monthly Unemployment Rate Decreases

Liz Gullett

Aug 19, 2016

July 2016’s seasonally adjusted unemployment rate was 4.5%, a decrease of one-tenth of a percentage point from the prior month and seven-tenths of a percentage point lower than the prior year. Additionally, Michigan’s rate for the month is four-tenths of a percentage point lower than the national unemployment rate. Last month’s rate is the lowest it has been since January 2001 when the rate was 4.4%. Highlights from the report include:

Total employment decreased by 20,000
The number of unemployed decreased 8,000
Thus far, the average 2016 unemployment rate is 4.7%
Payroll jobs are at the highest level since April 2006
Since December 2015, manufacturing jobs increased by 11,000

The unemployment rate in the Detroit-Warren-Dearborn market also decreased last month from 5.1% to 4.9%. This is a decrease of a full percentage point from the July 2015 rate.

To view the full monthly report, please click here.

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