Michigan’s unemployment rate remained at 3.9% for the fourth consecutive month in May, and jobs in the state increased by 8,000 over the month. Unemployment in the state has remained near 4% since late 2021 and matches the national rate. Michigan’s initial claims for unemployment have remained stable since January as well, indicating the strength of the labor market.
Economic Indicators: Michigan Unemployment Rate Remains Stable in May
June 20, 2024
Chamber Perspective
The strong labor market is occurring at a time when Michigan voters express a disconnect from the economy. The May 2024 Detroit Regional Chamber’s Michigan Voter Poll reported 61% of respondents see the economy as weakening or in a recession and 52% believe the state’s economy is on the wrong track. In contrast, 85% of workers are not concerned about losing their jobs.