LANSING – Michigan’s seasonally adjusted unemployment rate fell to its lowest rate in 14 years in

July, 5.3 percent, but the decline had nothing to do with the state adding new

jobs during the month because figures showed the state had no net gain in

employment last month.

The number of unemployed

individuals declined as did the overall labor force in Michigan, according to

the figures.

 

Jason Palmer, director

of the Bureau of Labor Market Information and Strategic Investments, said a

minor decrease in the number of people looking for work was responsible for the

jobless rate decline.

 

At 5.3 percent, the state’s

jobless rate stands at the same rate in July as the U.S. rate. It is also the

lowest rate the state has seen since August 2001, when an economic slowdown

turned into a full recession the month following after the terrorist attacks of

September 11, 2001.

 

Governor Rick Snyder put out a

statement when the figures were released saying the state should be proud of

its accomplishment in getting the lowest jobless rate in 14 years, but not be

satisfied.

“We must not be

satisfied. We can, and will, continue to grow and thrive,” Snyder

said.

With the exception of

June (which tied May’s jobless rate), the unemployment rate has declined every

month in 2015. In July 2014, the state’s jobless rate was 7 percent.

 

The figures also showed

total job growth for the state since July 2014 stood at 63,000, which is growth

of 1.4 percent. That lags behind national job growth of 1.7 percent.

But the number of

jobless individuals has fallen by 81,000 people from July 2014. That is a

decline of 24.5 percent, which far outpaces the national decline of 14.3

percent.

 

In the

Detroit-Warren-Dearborn market, the state’s largest, the regional unemployment

rate fell by 0.3 percentage point to 5.8 percent. In July 2014, the jobless

rate was 8.3 percent. The region also saw an increase in the number of people

working of 6,000 from June and a decrease in jobless people of 7,000 during the

same time.

 

This story was published

by Gongwer News Service. To subscribe, click on www.gongwer.com