89.1 WEMU

State Jobless Rate Falls In October

Nov 19, 2014

Michigan jobless rate falls slightly to 7.1 percent

Credit http://www.milmi.org/

More people were looking for work last month, but more businesses were hiring, which helped drive Michigan's unemployment rate to 7.1 percent, the lowest it's been so far this year.

That's one-tenth of a percentage point below where it was a month ago, and one-and-half percentage points below a year ago.

Weaver says most of the new hiring over the past 12 months was in transportation, manufacturing, and business services. That includes a spike in hiring tem workers.

The retail sector also boosted hiring last month. Construction and restaurant hiring fell off last month.

"We're actually outpacing the national average in terms of the reduction in the rate. There's actually only five states in the country that have seen a faster drop in the rate over the last year than Michigan."

Those other states are Illinois, Nevada, Colorado, Rhode Island, and Ohio.

Michigan's jobless rate is still higher than the national average. The state's rate of unemployment, discouraged jobseekers and under-employment is 14 percent -- almost twice the standard jobless rate.