State jobless rate now below 6% — first time since 2001
The state jobless rate fell to less than 6 percent for the first time since Ocober 2001 during February, dropping from 6.3 percent to 5.9 percent.
According to data released Wednesday by the Michigan Department of Technology, Management & Budget, the monthly gain wasn't entirely positive. While 13,000 workers found jobs, 5,000 men and women stopped looking for work and left the state labor force, either giving up, retiring, moving or dying.
The February jobless rate is nearly a full point better than the February 2014 rate of 7.8 percent. The state rate remains four-tenths of a point above the national jobless rate of 5.5 percent.