Posted on 03/31/2016 5:07:04 AM PDT by MichCapCon
In a very rare occurrence, Michigan’s unemployment rate in February dipped below the U.S. rate.
Michigan’s unemployment rate dropped to 4.8 percent, just below the national average of 4.9 percent. It was only the second time since August 2000 that Michigan had a lower unemployment rate than the U.S. The other time was July 2015 when state unemployment was 5.2 percent. That rate for U.S. was 5.3 percent then.
The state added 36,000 jobs in February; the labor force also increased, by 32,000.
“Michigan is now in the rare place where the job market is tighter than in the nation as a whole,” said James Hohman, the assistant director of fiscal policy for the Mackinac Center for Public Policy. “The good economy appears to be pulling people back into the labor force and finding them work.”
Labor participation rate is still way down. It is quite a stretch to call this a tight job market.
My employer in MA (in the technology arena) just announced a wage freeze for the next 12 months. As one official said: At least you still have jobs.
This is ... odd ... in an economy with 4.9% unemployment.
Looks like Right to Work passage having a desired effect?
Why does no one ever talk about the REAL unemployment rate?
Over Ninety MILLION!
Who in their right mind would move from a Open Carry, No State Income tax, right to work state to this pest hole? Which hates all of the above.
It appears here in the midwest, a lot of those jobs are 8 buck an hour Obamacare-avoiding 29er jobs.
Job mobility for middle wage and up jobs appears very low.
Ah, we have #1 and #3. #2 won’t go away.
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