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Frank A. Douglass Insurance Agency

Michigan Unemployment Rate Drops To Lowest Level In 12 Years

Michigan’s unemployment rate in January fell to its lowest level in more than 12 years.

The state’s jobless rate in January was 6.3%, down 0.1% from the December 2014 revised rate of 6.4%.

It’s the lowest unemployment rate for Michigan since the 6.3% rate posted in November 2002.

According to the Michigan Department of Technology, Management & Budget, total employment rose by 22,000 in January while the number of unemployed decreased by 8,000. The net impact was a 15,000 over-the-month gain in the state’s labor force.

The Michigan jobless rate in January was 1.6% below the state’s January 2014 rate of 7.9%. The national unemployment rate in January was 5.7%.

Michigan’s 2014 annual unemployment rate was revised slightly upward by 0.1% from 7.2% to 7.3%. The 2014 annual rate declined by 1.6% from the 2013 annual rate of 8.9%.

2014 marked the fifth consecutive year that the state’s annual unemployment rate decreased.

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