LANSING: Gov. Rick Snyder issued the following statement regarding today’s announcement that statewide unemployment dropped to 4.2 percent: Statewide unemployment once again dropping below the national average is excellent news. These numbers should encourage all Michiganders to continue to work hard and keep our foot on the gas. We are moving forward on a great path toward our future. The state’s continued commitment to workforce development along with the lowest unemployment rate our state has seen in nearly 17 years proves that. Michigan’s seasonally adjusted unemployment rate in May dropped over the month by a half percentage point to 4.2 percent, according to data released today by the Michigan Department of Technology, Management & Budget (DTMB). The state’s workforce fell by 21,000 over the month while total employment edged upward by 3,000. The number of unemployed in Michigan declined by 24,000 in May.
The Michigan jobless rate in May 2017 was six-tenths of a percentage point below the state’s May 2016 rate of 4.8 percent. The national jobless rate decreased by four-tenths of a percentage point over this period. The state’s unemployment rate in May was one-tenth of a percentage point below the national rate. The U.S. jobless rate declined by one-tenth of a percentage point to 4.3 percent in May. “Michigan’s jobless rate reduction in May primarily reflected fewer residents in the state workforce, rather than a significant monthly gain in hiring,” said Jason Palmer, director of the Bureau of Labor Market Information and Strategic Initiatives. “However, Michigan employment has advanced sharply over the past year.”
