Michigan's unemployment rate in May 2014 edged up slightly to 7.5% from 7.4% in April. Total employment and the labor force were little changed. While the unemployment rate increased slightly month-over-month, it remains well below the rate from May 2013. Several industries added jobs in May including manufacturing, leisure and hospitality, and government.
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Michigan's May Unemployment Rate Edges Upward
Michigan's unemployment rate in May 2014 edged up slightly to 7.5% from 7.4% in April. Total employment and the labor force were little changed. While the unemployment rate increased slightly month-over-month, it remains well below the rate from May 2013. Several industries added jobs in May including manufacturing, leisure and hospitality, and government.
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FOR IMMEDIATE RELEASE
Date: J une 18, 2014
Contact: Kurt Weiss, 517-335-0050
Michigans May Unemployment Rate Edges Upward
Lansing Michigans seasonally adjusted unemployment rate in May edged upward slightly over the month by one-tenth of a percentage point to 7.5 percent, according to data released today by the Michigan Department of Technology, Management & Budget (DTMB). Total employment, the number of unemployed, and the states labor force were little changed from April to May.
The Michigan jobless rate in May 2014 was one and four-tenths percentage points below the states May 2013 rate of 8.9 percent. The national jobless rate decreased by one and two-tenths percentage points over this period. The states unemployment rate in May was one and two-tenths percentage points above the national rate of 6.3 percent. The U.S. jobless was unchanged from April to May.
After a sluggish start in early 2014, Michigan payroll jobs rebounded in May to late 2013 levels, which were recent highs said J ason Palmer, director of the Bureau of Labor Market Information and Strategic Initiatives. Despite Mays slight jobless rate uptick, Michigans unemployment rate remains well below 2013 levels.
Monthly Labor Force Trends & Highlights
Michigans small jobless rate increase in May was the first monthly rate advance since J uly 2013.
The states average unemployment rate for the first five months in 2014 was 7.6 percent, well below Michigans 2013 annual rate of 8.8 percent.
Michigans labor force grew by 25,000 or 0.5 percent since May 2013.
The states total employment level increased by 89,000 or 2.1 percent from May 2013 to May 2014, outpacing the national growth rate of 1.3 percent.
From May 2013 to May 2014, the number of unemployed in Michigan fell by 15.3 percent, slightly less than the U.S. reduction of 16.2 percent over the same period.
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Unemployment May 2014, p.2 of 4
MICHIGAN Labor Force Estimates Seasonally Adjusted (Data in Thousands) May 2013 April 2014 May 2014
Detroit Metropolitan Areas May Jobless Rate Increases Slightly
The Detroit-Warren-Livonia Metropolitan Statistical Areas (MSAs) seasonally adjusted unemployment rate in May rose slightly by one-tenth of a percentage point to 8.2 percent. In May, total employment declined by 11,000, but the number of unemployed was essentially unchanged. The net result was a 10,000 over-the- month reduction in the areas labor force. The metro areas total employment level has been very sluggish so far in 2014, with essentially no net growth through May. Through the first five months of 2014, the Detroit MSAs workforce level has declined moderately by 13,000 or 0.6 percent. The areas May jobless rate matched its 2014 year-to-date average rate of 8.2 percent. From May 2013 to May 2014, the Detroit metropolitan areas jobless rate fell by one and two-tenths percentage points. Over that period, total employment moved upward by 10,000 or 0.5 percent, however the number of unemployed fell by 27,000 or 14.1 percent. Since May 2013, the regions workforce recorded a decline of 16,000 or 0.8 percent.
Detroit-Warren-Livonia MSA Labor Force Estimates Seasonally Adjusted (Data in Thousands) May 2013 April 2014 May 2014
Broad Based Gains in May Payroll Jobs According to the monthly survey of employers, seasonally adjusted Michigan payroll jobs rose in May by 17,000 to total 4,125,000. Payroll jobs advanced over the month in a number of the states major industry sectors including manufacturing (+5,000), leisure and hospitality services (+5,000), trade, transportation and utilities (+4,000), government (+4,000), and other services (+3,000). The only notable job reduction in May was in financial activities (-3,000). The states remaining major sectors recorded little change in May. Industry Employment Trends and Highlights
Mays payroll job gain was the second monthly increase in 2014, and was by far the largest.
The overall jump in May placed Michigans job count at a level very similar to the totals recorded in the last quarter of 2013, which were the highest job totals posted for the state since September 2008.
The manufacturing job gain in May reflected partial recalls from short-term April layoffs in the auto industry.
The over-the-month job loss in Michigans financial activities sector continued a downward trend in this sector seen since the fall of 2013. This category has recorded the largest over-the-year job decline of any major sector in the state.
J obs in trade, transportation and utilities rose in May for the third consecutive month, continuing an upward trend displayed throughout 2013 into 2014.
From May 2013 to May 2014, payroll jobs in Michigan increased by 23,000 or 0.6 percent. Over that period, gains in trade, transportation and utilities (+11,000), manufacturing (+8,000), leisure and hospitality services (+6,000), and construction (+5,000) accounted for the bulk of over-the-year job growth.
Seasonally adjusted average weekly hours and earnings of production workers in manufacturing increased over the month as well as over the year.
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Unemployment May 2014, p.4 of 4
MICHIGAN Payroll Employment Estimates Seasonally Adjusted (Data in Thousands)
May April* May** CHANGE*** 2013 2014 2014 MONTH YEAR