The unemployment rate has dropped to 3.9%, marking the third time it has fallen below 4% during Governor Whitmer’s tenure. Furthermore, Michigan’s workforce has experienced a growth rate that is more than double the national average on a year-over-year basis.
Governor Gretchen Whitmer of Michigan celebrated the latest economic data, which revealed that the state’s unemployment rate dropped to 3.9% in February. She expressed her satisfaction with the fact that Michigan’s labor force expanded by 1.9% over the past year, surpassing the national growth rate.
Michiganders are putting in a lot of effort as our economy keeps expanding.
“With a low unemployment rate and strong labor force growth in the past year, Michigan is experiencing a surge of progress. More individuals are finding employment, businesses are expanding, and the local communities are bustling with activity as we approach the arrival of spring and the anticipation of warmer weather.”
“We, along with my partners in the Michigan Legislature, will continue to collaborate in order to boost and diversify our economy. Our focus will be on addressing the everyday issues that have a tangible impact on people’s lives. Our relentless efforts will involve attracting high-paying jobs, constructing more housing, improving our roads, providing support to students and workers, and reducing the financial burden on working families.”
“Let’s continue collaborating to propel Michigan towards progress.”
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- Michigan’s jobless rate matched the U.S. rate (3.9%) during February 2024.
- The statewide unemployment level receded by 2.0% over the month, while the national unemployment total expanded by 5.5% since January.
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- Michigan’s workforce rose by 1.9% over the year, an increase over double the labor force increase seen nationally (+0.7%).
- According to the monthly survey of employers, Michigan seasonally adjusted nonfarm employment rose by 15,000, or 0.3%, resulting in a job total of 4,472,000 in February.
