Michigan’s unemployment rate remains steady in May

June 23, 2024

Nik Rajkovic / news@whmi.com

Michigan’s seasonally adjusted unemployment rate remained at 3.9 percent for the fourth straight month in May, according to data released by the Michigan Department of Technology, Management and Budget. Employment and unemployment in the state advanced during the month, resulting in a labor force increase of 3,000 since April.

“Michigan continued to display a strong labor market during May,” said Wayne Rourke, director of labor market information for the Michigan Center for Data and Analysis. “Wages advanced for fourth month in a row.”

The national unemployment rate rose 0.1 percentage point to 4.0 percent during the month. Michigan’s unemployment rate in May was one-tenth of a percentage point below the U.S. rate. During the year, the national and Michigan unemployment rates advanced by 0.3 percentage points.

Workforce trends and highlights

• State employment remained essentially unchanged during May, while total national employment decreased by 0.3 percent.

• Unemployment in Michigan rose 8.8 percent over the year, a gain almost identical to the increase in unemployment nationwide (+8.7 percent).

• May’s nationwide labor force participation rate was steady at 62.3 percent over the month. Michigan’s employment-to-population ratio also remained constant, standing at 59.9 percent.

The unemployment rate in the metro Detroit area rises during the month
The seasonally adjusted unemployment rate in the Detroit-Warren-Dearborn Metropolitan Statistical Area (MSA) rose 0.1 percentage point over the month to 3.9 percent in May. The region’s labor force was almost unchanged, rising by 1,000 since April.

The unemployment rate in the Detroit MSA advanced 0.7 percentage points over the year. Employment increased by 15,000 and unemployment increased by 16,000 since May 2023.

Michigan nonfarm jobs grow in May

Seasonally adjusted payroll employment in Michigan rose by 8,000, or 0.2 percent, during the month, according to the monthly survey of employers. Job gains occurred mainly in the state leisure and hospitality sector, while most other industries recorded only small employment changes.

Industry employment trends and highlights

• Overall nonfarm payrolls in Michigan advanced for the fourth consecutive month in May.

Michigan’s leisure and hospitality sector posted the largest numerical employment gain of the month, with employment increasing by 6,000 since April.

• Overall seasonally adjusted nonfarm payroll jobs in Michigan increased by 41,000, or 0.9 percent, over the year.

• Industries with the most pronounced numerical job gains over the year included government (+17,000), private education and health services (+17,000), and construction (+16,000).