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