Michigan unemployment rate rises in October

GRAND RAPIDS, Mich. -- The Michigan Department of Technology, Management & Budget has released unemployment numbers today for the month of October.

They say the state's seasonally adjusted jobless rate increased by two-tenths of a percentage point to 4.7 percent. The state says about 6,000 more people filed for unemployment last month. Year-over-year, the unemployment rate in Michigan rose 11.9 percent.

Here are more details from a Michigan DTMB news release:

Employment receded by 9,000 over the month, while unemployment advanced by 6,000, resulting in a workforce decline of 3,000 since September.

“The uptick in Michigan’s jobless rate reflected a decrease in the workforce and an increase in unemployment over the month,” said Wayne Rourke, labor market information director for the Michigan Center for Data and Analytics. “Total payroll jobs in the state also receded slightly since September.”

The national jobless rate was unchanged between September and October at 4.1 percent. Michigan’s October unemployment rate was six-tenths of a percentage point larger than the U.S. rate. Over the year, the national jobless rate rose by 0.3 percentage points, while the statewide rate advanced by half a percentage point since October 2023.

Labor force trends and highlights

• Unemployment in the state rose for the seventh consecutive month during October.

• Michigan’s over-the-month employment reduction of 0.2 percent matched the employment decrease seen nationally.

• Total unemployment in the state advanced by 11.9 percent over the year, a gain 3.5 percentage points larger than the national unemployment total increase (+8.4 percent).

• The October statewide labor force participation rate decreased by one-tenth of a percentage point over the month to 62.2 percent. Michigan’s employmentpopulation ratio was also reduced by one-tenth of a percentage point to 59.3 percent during the same period.

Michigan payroll employment inches down slightly in October

According to the monthly survey of employers, Michigan seasonally adjusted nonfarm payroll jobs declined slightly by 1,000 between September and October.

Industry employment trends and highlights

• Following a gain of 8,000 jobs in September, Michigan payroll jobs fell by 1,000 in October.

• Despite minor job additions across several industries, total employment fell in October largely due to monthly job losses in leisure and hospitality (-5,000).

• Michigan’s private education and health services sector demonstrated the largest numerical employment gain over the month, with employment rising by 3,000 during October.

• The state’s financial activities sector recorded employment growth for the fourth consecutive month, with jobs advancing by 5,000 since June 2024.

• On a numerical basis, the most pronounced over-the-year industry job gains occurred in government (+19,000), construction (+15,000), and private education and health services (+11,000).