Michigan’s seasonally adjusted unemployment rate ticked up last month to 4.7% -- an increase of two-tenths of a percentage point. The October jobs data was released Thursday by the Michigan Department of Technology, Management and Budget.
October is the seventh consecutive month the state’s jobless rate has either gone up or remained flat. Michigan Labor Market Information Director Wayne Rourke said the national rate remained static at 4.1%.
“Most of the job losses we’re seeing recently is in manufacturing and its related industry, professional and business services,” he said. “Each of these industries has 6,000 jobs apiece in the last six months so these losses in these industries is greater than what the U.S. is seeing.”
The state’s jobs report also indicated the leisure and hospitality sector lost about 5,000 jobs last month. But Rourke said the job losses are not surprising following a vigorous economic recovery from the pandemic. He said the state’s October number likely reflects a return to more typical employment patterns.
“Those were a recovery from a really bad recession due to the pandemic, so going forward, the unemployment rate being at 5% under 5% is still historically very good compared to what we’ve seen,” he said.
Michigan’s unemployment rate at this time last year was 4.2%.
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