Wednesday, November 13, 2002
NO RECOUNT NEEDED!
Michigan’s Unemployment Rate
Beats National Average
State’s Jobless Rate Falls Back Below National Rate
Governor John Engler today announced that Michigan’s unemployment rate has fallen below the national average with a posting of 5.6 percent for the month of October. The national rate for October was 5.7 percent.
"The tallies are in and no recounts are needed," Governor Engler said. "Once again, Michigan’s unemployment figures are back below the national average. This is welcome news for the working men and women of this state and a strong showing for state job providers. Michigan continues to show considerable resilience as we emerge from a national recession. This is definitely a sign of better things to come for Michigan’s economy and our state. Having our unemployment rate again below the national rate is proof positive that Michigan’s economy is fundamentally stronger today than it was a decade ago."
The state’s unemployment rate in October was the lowest since the 5.5 percent rate recorded in September 2001, and October 2002 marks the first month since November 2000 that Michigan’s unemployment rate fell below the national rate.
Over the two-year period ending in October, the Michigan and U.S. jobless rate increased an identical 1.8 percent. This clearly shows that unlike in past recessions when unemployment in Michigan greatly outpaced the national average, in recent years, Michigan was better prepared and equipped to handle a national economic downturn.