Cynical Synapse

Thu, 15 Jul 2010

Michigan Jobless Numbers: Smoke and Mirrors

Filed under: Business, Economy, Michigan, People, Unemployment — cynicalsynapse @ 10:01 pm

Will Work for Food

The Michigan unemployment rate fell to 13.2%, continuing a slow, but steady, decline over the last couple months. And this is the second consecutive month for which Michigan doesn’t have the highest unemployment rate in the nation. But it’s still not good.

Jobless line

But the news is not as good as it sounds. Department of Energy, Labor, and Economic Growth spokesman Bruce Weaver said fewer people were looking for work. When people who’ve quit looking, or part-timers seeking full-time work are counted, Michigan’s rate of unemployment and under-employment is 21.7%. To that end, 42,000 fewer workers were hunting for jobs this June compared to June 2009.

As to whether the recession is ending, initial jobless claims were down 29,000, but seasonally adjusted unemployment still topped 4.7 million across the country for the week ending 10 July. That’s an increase of 247,000 over the previous week. For the week ending 03 July, Michigan was third in increases for initial claims (+5,323).

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