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Posted: 10:45 PM Dec 17, 2008
State Unemployment Rate Hits 16 Year High
Nearly 3% higher than national rate. Reporter: Associated Press |
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Michigan's unemployment rate rose to 9.6 percent in November, the highest monthly rate since March 1992, state officials said Wednesday.
The November rate was three-tenths of a percentage point higher than in October.
The Michigan Department of Labor & Economic Growth said total employment fell by 35,000 and unemployment rose by 16,000, as the labor force continued to contract.
The seasonally adjusted jobless rate was 2.2 percentage points higher than in November 2007, generally following a national trend of rising unemployment. Michigan's jobless rate remained higher than the national unemployment rate, which was 6.7 percent last month.
State officials attribute the labor market's deterioration to fallout from the national recession.
Total employment in Michigan has fallen every month since January. November also marked the fifth straight month of payroll job reductions in the state. About 103,000 jobs were lost in those five months, representing 90 percent of the state's over-the-year losses.
The only major industry in Michigan to see job gains in the last year was education and health services, gaining 12,000 jobs.
Manufacturing lost 38,000 jobs since November 2007, while trade, transportation and utilities lost 21,000 jobs and the construction sector lost 17,000 jobs.
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