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Michigan jobless rate falls without new jobs added

The Department of Labor’s Regional and State Employment and Unemployment Summary for April is out and the news is decidedly mixed.

Jul 31, 2020
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The Department of Labor’s Regional and State Employment and Unemployment Summaryfor April is out and the news is decidedly mixed. Michigan’s unemployment rate dropped .1, from 10.3 percent to 10.2 percent — but it did so while the actual number of jobs in the state went down.
The total number of jobs in the state of Michigan went down by 10,200 in April. So why did the unemployment rate go down? Likely because that number was more than balanced off by the number of people exhausting their unemployment benefits, which means they are no longer counted in the official unemployment figures.
Though Michigan’s jobless rate has fallen consistently for the past year, it remains one of only seven states with a rate in the double figures.
Camilo Wood

Camilo Wood

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Camilo Wood has over two decades of experience as a writer and journalist, specializing in finance and economics. With a degree in Economics and a background in financial research and analysis, Camilo brings a wealth of knowledge and expertise to his writing. Throughout his career, Camilo has contributed to numerous publications, covering a wide range of topics such as global economic trends, investment strategies, and market analysis. His articles are recognized for their insightful analysis and clear explanations, making complex financial concepts accessible to readers. Camilo's experience includes working in roles related to financial reporting, analysis, and commentary, allowing him to provide readers with accurate and trustworthy information. His dedication to journalistic integrity and commitment to delivering high-quality content make him a trusted voice in the fields of finance and journalism.
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