Whitmer Statement on Another Strong Jobs Report

by | Jun 15, 2023 | Regional News

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FOR IMMEDIATE RELEASE 

June 15, 2023

Contact: [email protected]

 

Gov. Whitmer Statement on Another Strong Jobs Report 

Unemployment rate drops to 3.7%, labor force increases by 26,000, 82,000 jobs added year over year 

 

LANSING, Mich. — Governor Gretchen Whitmer issued the following statement after the release of the latest economic numbers showing Michigan’s unemployment rate fell to 3.7% in May, remaining below 4% for only the third period in nearly 50 years. Michigan’s labor force participation rate continued increasing, the labor force increased by 26,000, and the economy added 82,000 jobs year over year.

 

“Michigan’s strong economic momentum continues.

 

“Our unemployment dropped to 3.7%, remaining below 4% for only the third period in nearly 50 years. With our strong labor market, working people can keep finding good-paying jobs, companies can grow in Michigan, and families have more money in their pockets for the kitchen-table essentials.

 

“In 2023, the majority in Lansing has cut taxes by $1 billion for seniors and working families, powered strong economic development efforts, and made record, bipartisan investments in housing, community revitalization, and workforce development.

 

“Let’s keep our foot on the accelerator to deliver another balanced budget, grow our economy, and ensure anyone can ‘make it’ in Michigan.”

 

Another Strong Jobs Report

  • Unemployment rate dropped to 3.7% in May, continuing to inch down towards the all-time recorded low of 3.2% in February 2000.
  • Since the mid-1970s, Michigan’s unemployment rate only fell below 4.0% during three periods: periodically from 1998-2000, from November 2019 to March 2020, and now, from April 2023-present.
  • The state recorded 4,440,000 payroll jobs, an increase of 15,000 over the month and 82,000 over the year.
  • Labor force participation rate climbed to 60.5 percent this month, the highest since July 2020.