Mich. jobless rate falls to 6.7%
Michigan's jobless rate fell during November to it's lowest level since April 2006, dropping by nearly half a point to 6.7 percent.
The drop from October's 7.1 percent rate came as 13,000 men and women reported finding jobs, while 3,000 left the state labor force. The combined effect lowered total unemployment in Michigan by 16,000 workers, according to data released Wednesday by the Michigan Department of Technology, Management & Budget.
"Michigan's labor market has been very solid in the latter part of 2014," Jason Palmer, director of the Bureau of Labor Market Information and Strategic Initiatives, said in a statement. "Payroll jobs in the state have reached a six-year high, while the jobless rate has declined for four consecutive months."
November's rate marked the eighth monthly drop in the state jobless rate this year, and pushed the rate 1.8 percentage points below the state's November 2013 rate of 8.5 percent. The new rate still remains nearly a full point worse than the U.S. November unemployment rate of 5.8 percent.
The total number of payroll jobs in the state also grew during November, adding 11,000 jobs. The official unemployment rate is based on the broader household survey, which includes self-employed workers and independent contractors.
During the last 12 months, overall employment in Michigan increased by 120,000 jobs, with 43,000 jobs going to workers who joined the state labor force. That caused total unemployment in the state to decline by 78,000 workers.