The Help Wanted signs at many businesses, along with the resurgence of job fairs and signing bonuses are signs that unemployment numbers are getting pretty low. Unemployment has been declining for eight months and was recorded at 4.7% in August, the last statistical month.
Michigan is faring well as it emerges from the days of Covid shutdowns and unemployment checks padded with federal funds. The economy grew 7.6% in the first quarter of this year and turned a projected $3 billion deficit into a $3.5 billion surplus, according to the Office of Governor Gretchen Whitmer.
Whitmer is quick to credit her spending plans for the low unemployment numbers but also credits the “massive influx of federal funds” in bolstering the economy. Personal income was up 19.1% in 2021 compared to the first quarter of 2020.
Even with unemployment so low, Whitmer is trying to create new jobs, saying, “We have more to do to ensure every family, community, and small business can thrive as we usher in a new era of prosperity for our state.”
A link to the full report can be found below.
August 2021 Unemployment Report.pdf
Reporting for WGRT – Jennie McClelland
