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Wed March 24, 2010
State's February jobless rate drops to 14.1%
By Rick Pluta, Michigan Public Radio Network
LANSING, MI –
Michigan's jobless rate fell slightly in February to its lowest point since last summer. Michigan Public Radio's Rick Pluta reports that it appears job losses have stabilized, at least for now.
Economists at the state Department of Labor and Economic Growth say the new unemployment rate of 14.1% is still well above the national average. But it reflects a leveling off of job losses, especially in construction and manufacturing.
Over the past year, there's also been a loss of jobs in media and elecommunications, banking, insurance, and real estate. At the same time, the education and health care sectors added jobs.
There are 684,000 people out of work and looking for employment in Michigan. There are even more who have quit looking, or are working part-time but want to work full-time. When those groups are added in, the rate of unemployment and under-employment in Michigan is 22%.