labor markets Archives - The Michigan Star

Commentary: Unemployment Remains Unchanged at 3.8 Percent as Record 11.1 Million Seniors Still Working

October 10, 2023 Michigan Star Staff

Labor markets appeared buoyed by still-working Baby Boomers in September as the unemployment rate remained unchanged at 3.8 percent, with 296,000 seniors finding jobs in the Bureau of Labor Statistics’ household survey.

With more than 11.1 million seniors still working — a national record — peak employment still abounds, even as a massive 47.21 million seniors are no longer in the labor force — also a record — amid the Baby Boomer retirement wave that has seen those 65-years-old-and-older not in the labor force have increased about 19 million the past 25 years.

Michigan Unemployment Rates Dropped in April

May 26, 2023May 25, 2023 The Center Square

Unemployment in Michigan’s 17 labor markets decreased by a median rate reduction of 0.8 percentage points in April compared to April 2022, according to data released Thursday morning by the Michigan Department of Technology, Management & Budget.

All but one of Michigan’s 83 counties saw a reduction in unemployment rates between March and April. The median decrease was reported by the DTMB as 1.7 percentage points. Year-over-year rate reductions were experienced in 79 counties.