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Michigans unemployment rate increases to historic level in April as a result of COVID-19-related layoffs
Thu, 21 May 2020 06:23:32 EDT
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Michigan's seasonally adjusted jobless rate rose sharply in April to 22.7 percent, a monthly jump of 18.4 percentage points, according to data released today by the Michigan Department of Technology, Management & Budget. Employment in Michigan plunged by 1,130,000, while the number of unemployed grew by 839,000, resulting in a labor force drop of 291,000 over the month.
The large monthly unemployment rate advance reflected a continuing and deepening of the pandemic's impact on the workforce, as most COVID-19 related layoffs began in the second half of March and continued through April.
Jason Palmer, director of the Bureau of Labor Market Information and Strategic Initiatives said "April's historic unemployment rate and job declines reflected the first full month of the COVID-19 pandemic's impact on the state's labor market," adding "Job losses were widespread across all industry sectors, with especially large employment reductions in leisure and hospitality and manufacturing." The jobless rate was based on information for the week of April 12-18, in the midst ofthe Governors "Stay Home, Stay Safe" executive order.