Michigan unemployment rate falls to lowest point since September 2008
Michigan's unemployment rate fell to 9 percent in January, marking its lowest point in nearly three and a half years, according to statistics released today by the Michigan Department of Technology, Management and Budget.
The rate declined from 9.3 percent in December and 10.9 percent in January 2011, the state said.
The state added 19,000 jobs from December to January, including 16,000 manufacturing positions. The professional and business services industry added 3,000 jobs.
Among the positive signs for the economy is that the retail sector — which typically sheds jobs after the holiday shopping season — stayed steady at about 446,000 positions, according to the state.
The state's unemployment rate hasn't been lower since September 2008, when it was 8.9 percent. The rate averaged 10.3 percent in 2011 and 12.7 percent in 2010.