Michigan's unemployment rate falls to 14.1 percent in February
Michigan’s unemployment rate continued its gradual downward slide last month, slipping from 14.3 percent in January to 14.1 percent in February, according to statistics released this afternoon by the Michigan Department of Energy, Labor & Economic Growth.
The state’s jobless rate peaked at 15.3 percent in September but had fallen to 14.6 percent by December, according to statistics released last year.
University of Michigan economists in November projected that the state’s unemployment rate would average more than 15 percent in 2010 and 2011.
Despite the recent improvements, Michigan’s unemployment rate is up from 12.0 percent in February 2009, and the state has lost 112,000 jobs since then.
The education and health services sector displayed strength in February, adding 5,000 jobs. But the government sector lost 5,000 jobs, the state said.
The news came after officials reported recently that Washtenaw County boasts the lowest unemployment rate of the state’s 83 counties. The county’s jobless rate stood at 9.3 percent in January.
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Comments
wendy
Thu, Mar 25, 2010 : 9:33 p.m.
I'm trying to start a new business and have been speaking with a lot of people...getting a lot of interest, but no one has any money and getting solid consulting gigs is extremely difficult at the moment. Hoping things turn around soon. In the meantime, I keep refining my elevator pitch;-)
Do not taunt Happy Fun Ball
Thu, Mar 25, 2010 : 7:42 a.m.
Let's not forget that the Bush Tax Cuts expire in December of this year. That means higher taxes across all businesses = less money in the private sector, which of course, directly translates to less hiring.. And therefore, more even more people on Government rolls.
Sun & Snow Sports
Thu, Mar 25, 2010 : 3:06 a.m.
We keep our ears to the ground with local & regional retail, and have seen significant changes in both spending & overall consumer attitudes. I truly believe the storm is finally weakening for SE Michigan. Though we are very small, our company brought on double the full time staff just in the past 2 months, and I know we're not alone. Job or no job, we've all survived so far. I know it's frustrating, but the pessimistic discussions only cause more damage. This state has a LOT more to offer than we tend to give it credit for, and we CAN pull out of this.
Smiley
Wed, Mar 24, 2010 : 7:39 p.m.
I would love to start a new business (I even have an investment group thats ready). I want to, but I don't have to. My fear is dumping what I have left of savings, and perhaps an equity loan on my house (which is totally inadvisable unless you have the next big thing), to fund a business and work extremely hard with employees providing at least a job now, but perhaps equity benefits down the line when loans are paid down to certain levels...only to be hit with either (a) a crazy lawsuit that is permitted to run its course by a complacent judiciary, or (b) the rules the government set, being changed in a way that significantly affects my finances. I'm employed and I'm sittin' tight. I want to do it, but this is not the time. I have a feeling Im not the only one. On a good note, I saw a headline today that Obama was considering getting tough with the Chinese on currency manipulation. Something like that would trigger a time to invest in a business, because the trickle effect of such an effort brings patrons to the local business our group is considering.
DMD37
Wed, Mar 24, 2010 : 5:12 p.m.
I think that more people have just lost their benefits. I know I am one who has exhausted my benefits and am still unemployed.
Top Cat
Wed, Mar 24, 2010 : 3:50 p.m.
It is the worst possible time to subject businesses to more taxes and more regulation.
John Galt
Wed, Mar 24, 2010 : 3:36 p.m.
Most likely a decline in population and expiration of benefits.
Mr. DB
Wed, Mar 24, 2010 : 3:24 p.m.
Unemployment fell because they all moved out of state.
trs80
Wed, Mar 24, 2010 : 2:40 p.m.
Good luck to all without work.
FifT7
Wed, Mar 24, 2010 : 2:40 p.m.
Does this mean more and more people are falling off the unemployment rolls? Having exhausted their benefits? Or, should we really believe businesses are hiring more people than they are RIF'ing?