Unemployment remains at historic low; labor force grows
LANSING, Mich., Aug. 17, 2023 — Michigan House Democrats are highlighting the latest employment numbers as the state’s economy continues its upward momentum. The unemployment rate for July held steady at 3.6%, the lowest rate in 23 years.
“Michigan is on a roll,” Speaker of the House Joe Tate said. “More than halfway into this new term, Democratic policies of fiscally responsible tax cuts, smart investments and a focus on the people of our great state are translating into strong economic activity and more good-paying jobs. I look forward to building on this success for the remainder of the year, as we continue putting people first.”
The state recorded more than 4.4 million payroll jobs in July, an increase of 63,000 year over year. Labor force participation grew by 23,000 last month, a rate of 96,000 year over year. The recently signed “Make it in Michigan” budget for the upcoming fiscal year makes strong investments in small business support, workforce development and jobs training, and lifelong education to keep Michigan’s employment numbers growing.
“I’m proud of the way our new budget creates opportunities across the state by investing in people and places, allowing more families to truly ‘Make it in Michigan’,” said state Rep. Kristian Grant (D-Grand Rapids), vice chair of the House Economic Development and Small Business Committee. “Vibrant communities and thriving businesses will lead to further job growth. Michigan’s future is looking bright.”