Michigan Unemployment Rate Lowest In 8 Years
LANSING (WWJ/AP) - Michigan's seasonally adjusted unemployment rate has dropped 0.4 percentage points to 6.7 percent in the latest month, reaching its lowest level in more than eight years.
The state Department of Technology, Management & Budget said Wednesday that the jobless rate has declined in eight months this year and is the lowest since April 2006. It says the rate is down from November 2013's 8.5 percent and from last year's average level of 8.8 percent.
"Professional and business services added about 5,000 jobs to the state economy. The manufacturing sector was up by about 3,000 jobs, and health care was a third area that added jobs during the month," said Bruce Weaver with the State of Michigan.
Weaver said payroll jobs were up by 11,000 in November which means that payroll jobs are now at a six year high.
All of this good news that should inspire us to reach even higher and go further, according to Gov. Rick Snyder.
"There is more we can do. Our goal should be to building upon the rock-solid foundation we've established," the governor said in a news release.
Michigan's unemployment rate still tops the national rate, which remained unchanged at 5.8 percent in November.
The state agency says the number of people working in Michigan last month rose by 13,000 to 4.416 million, while the civilian workforce fell by 3,000. It says the number of unemployed people fell 16,000 to 319,000.
The department says joblessness also fell 0.4 points in populous metropolitan Detroit to 7.9 percent in November. The region's civilian workforce is down by 25,000 for the 12 months to 2.007 million and employment is down 2,000 from a year earlier.
"We know that there are thousands of good paying jobs available here in Michigan," Snyder said. "We know that a key part of an environment for success is having a well-trained workforce. And we know we can be a national leader in creating opportunities for students and adults to gain in-demand skills that can fill the jobs of today and tomorrow. Our goal is to see that the gains we are acknowledging today extend long into the future."
TM and © Copyright 2014 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2014 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.