Michigan's seasonally adjusted unemployment rate in February inched down one-tenth of a percentage point compared with the previous month, to 4.8 percent, the Michigan Department of Technology, Management & Budget announced Wednesday, marking the sixth straight yearly decline.
The state's total employment rose over the month by 36,000 and the number of unemployed declined by 4,000. In metro Detroit, total employment rose by 18,000 over the month, while the number of unemployed edged down by 3,000. The net result was a 32,000 gain in the state's labor force.
Michigan's annual jobless rate was the lowest in 2015 since the 5.2 percent rate posted in 2001.
Gov. Rick Snyder today issued the following statement after the announcement " Michigan's falling unemployment rate is a great example of our state's continued success and a strong indicator of our future potential. More Michiganders are working as the state continues to move forward," Snyder said. "In 2010, Michigan's unemployment was among the worst in the nation and today it is below the national average. This is great news but now is not the time to rest.
"We need to continue working to ensure people of all backgrounds, in all corners of the state, have access to quality education and training opportunities for high-demand jobs. With collaboration across the business and education communities, Michigan can and will be the leader in developing, attracting, and retaining highly skilled talent. "
However, even as employment grows, Michigan still hasn't regained the number of jobs lost since its peak employment in spring 2000, according to a recent report by George Fulton and Donald Grimes of the University of Michigan.
"By the end of 2018, we are forecasting that the state will replenish 73 percent, or about three in four, of the number of jobs lost from the spring of 2000 to the summer of 2009," they wrote.
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