Wednesday, August 15, 2007

Michigan's July Jobless Rate, Still 7.2%

According to Michigan's Department of Labor and Economic Growth, Michigan's seasonally adjusted unemployment rate remained unchanged from June at 7.2%. Is this good news?

Interesting facts from the DLEG press release:

  • July's manufacturing decline was the most pronounced monthly drop in 2007.
  • Construction registered its fifth consecutive monthly employment decline in July. From February to July, this sector has shown a decrease of 13,000 jobs.
  • July marked the largest monthly decrease in statewide payroll jobs since January, and July's total jobs count was the lowest for thus far in 2007.
  • Since July 2006, education and health services was the only major industry sector in Michigan to show significant job growth (+10,000).
The national unemployment rate remained steady up a tenth of a percent to 4.6%