Michigan’s monthly jobless rate has dropped to its lowest rate in 17 years.
But that has more to do with fewer people looking for work than new hiring.
The pool of people who are employed hunting for jobs fell by 29 thousand last month. That helped drive the jobless rate down to 3.8 percent.
But Bruce Weaver with the Michigan Bureau of Labor Market Information says hiring is up over the past 12 months, especially in business services, temp work, and construction.
“Most industries in Michigan have added jobs over the year. The one exception to the rule would be the retail sector.”
He says the longer-term trend shows job growth.
“The jobless rate has fallen quite significantly over the year. The rate has dropped a full percentage point from the four-point-eight percent rate that existed in back in June of 2016.”
He says the rate is down a full percentage point since a year ago.
“The single industry that’s added the most jobs over the past year in Michigan is professional and business services. That’s a category that includes things like engineering services, accounting services, temporary help.
Weaver says construction hiring is also on the rise, while the retail sector has lost jobs as companies continue to close brick-and-mortar stores in Michigan.