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Unemployment rate plunges as job creation rebounds

The unemployment rate in Michigan plunged four-tenths of a point to 8.4% in December as Michigan’s employers were once again in a job creation mode. The figures released yesterday by the Bureau of Labor Market Information and Strategic Initiatives said the 2013 job creation rate was 64,000 new jobs. This is up more than 60% from 2012 according to the report.

People visit booths of prospective employers during the Hiring Our Heroes job fair at the Washington Convention Center, on January 10, 2014.
Photo by Mark Wilson/Getty Images

Professional and business services had the largest increase according to the report. More than 21,000 jobs were added in that sector, surpassing the 17,000 jobs that were added to the manufacturing sector. The vast majority of the manufacturing jobs were the automotive industry, a sign that the state is still heavily reliant on the auto industry.

Michigan’s unemployment rate and 8.4% is still tracking higher than the national unemployment rate which is currently 6.7%, according to the report.

“Payroll jobs were up in Michigan for the third consecutive year,” Bruce Weaver, economic analyst with the Michigan Department of Technology, Management & Budget, told the Detroit News “and the unemployment rate was down slightly from a year ago, which means the unemployment rate in Michigan has fallen now for four consecutive years.”

The majority of the new job growth was in the Grand Rapids area which experienced a 4% increase in jobs between 2012 and 2013. The increase in Detroit was less than 1%, according to the report.

Meanwhile at Examiner’s job partner, CareerBuilder.com, over 6,300 jobs are currently posted for the Detroit metropolitan area.

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