Michigan unemployment rate slightly dips to 14%
Updated : January 20th, 2021
A slight drop in the unemployment rate of Michigan has given positive signals to the recovering economy. Even though it is just one tenth of a percentage improvement from the previous month’s unemployment rate, people have been getting their confidence in the economy.
Refer to Michigan unemployment benefits guide to learn more about state employment program.
The concern has been the labor markets. Mostly because of the troubled labor sector, the state has been the worst recession hit in the nation. The state has been at the top position with respect to the unemployment rate in the nation. The number of workers in Michigan has considerably reduced from 4.6 million to 3.8 million. But the slight drop in the unemployment rate of the state was due to the addition of about 6000 jobs in April. The job gains mostly came from retail trade, auto manufacturing, education and health services. And the job losses were in leisure and hospitality businesses, and professional and business services.
About four years back, Michigan had launched the 21st Century Jobs Fund to help the companies create more jobs. Some small companies who received loans from the fund say that the money has helped them sail through the recession. The fund was seen as one of the ways to help develop the economy. Of course, there has been some dissatisfaction about the funds going to only advanced manufacturing, alternative energy, life sciences and homeland security and defense.
You can check out the unemployment claims eligibility article if you want to understand the unemployment claims better.
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