On a seasonally adjusted basis, the Michigan unemployment rate moved down in February by two-tenths of a percentage point to 4.7 percent, according to data released today by the Michigan Department of Technology, Management & Budget. Over the month, the number of employed persons increased by 14,000, while Michigan’s number of unemployed declined by 6,000 in February, leading to a total workforce advancement of 9,000 or 0.2 percent.
“Michigan’s labor market indicators showed continued signs of improvement in February,” said Wayne Rourke, associate director of the Bureau of Labor Market Information and Strategic Initiatives. “The state’s labor force increased, and the number of unemployed declined, while payroll jobs rose for the tenth consecutive month.”
The February unemployment rate in Michigan was 0.9 percentage points higher than the nationwide rate of 3.8 percent. Nationally, the jobless rate decreased by 2.4 percentage points over the year, more than the Michigan annual rate cut of 1.6 percentage points.
Monthly and annual labor force trends and highlights
The Michigan unemployment rate has dropped by a full percentage point since September 2021.
The statewide February jobless rate remained nearly a full percentage point above Michigan’s February 2020 pre-pandemic rate of 3.8 percent.
Over the year, Michigan’s labor force advanced by 1.1 percent due to an increase in the total number of employed (+124,000) and a decline in the number of unemployed residents (-72,000).
Michigan nonfarm payroll jobs edge up during February
Total Michigan payroll jobs moved up by 9,000, or 0.2 percent, during February. This resulted in a statewide job count of 4,312,000.
Over the month, job additions occurred in several major industries but were concentrated within trade, transportation, and utilities (+6,000) and professional and business services (+5,000).
Job losses during February were primarily in the auto sector, as transportation equipment manufacturing jobs fell by 7,000. These temporary layoffs were related to the ongoing global shortage of semiconductors.
Industry employment trends and highlights
February 2022 was the 10th consecutive month of statewide nonfarm payroll job additions.
Michigan’s administrative services sector added 5,000 jobs in February on a seasonally adjusted basis, with significant job gains in the temporary help industry.
Despite total nonfarm payroll jobs rising 172,000, or 4.1 percent, over the year, Michigan’s job level was still 141,000 below the February 2020 pre-pandemic count.
