Michigan’s unemployment rate plummeted to 3.6% in June, marking the lowest rate in 23 years. The state’s labor force participation rate showed a continued increase, with an additional 23,000 workers joining the workforce. Furthermore, the economy saw a remarkable surge, adding 76,000 jobs year over year.
Impressively, Michigan’s labor force expanded by a record-breaking 85,000 during the first half of 2023, the highest ever for the first six months of a year since the data series began in the 1970s.
This economic success is attributed to the strategic investments made in manufacturing projects, housing developments, community revitalization, and worker empowerment. The upcoming balanced, bipartisan budget is expected to further boost economic development, lower costs for Michiganders, and improve essential infrastructure.
Reporting for WGRT – Choze Powell
