For the first time in several years, the recent decline in southeast Michigan’s unemployment rate is directly related to an increase in jobs secured, rather than people leaving the region’s job force, says Lisa Katz, executive director of the Workforce Intelligence Network of Southeast Michigan.
According to a report released today by WIN, southeast Michigan’s unemployment rate fell to 8.5 percent in the first quarter of 2014, down from 9.1 percent in the previous quarter. This year marked the lowest first quarter unemployment rate in the region since 2008.
“We are incredibly encouraged by the high level of employment activity in Southeast Michigan,” Katz says. “We think this momentum will continue into 2014 with positive ramifications for the region.”
Job demand also increased in the first quarter, up 91 percent from the same time in 2013, as shown by an increase in the number of online job postings.
Based on the number of southeast Michigan-based job openings posted online last quarter, the top occupational clusters are:
- Retail & Hospitality (24,336 postings, up 72 percent growth)
- Health Care (12,835 postings, up 77 percent)
- IT (13,037 postings, up 42 percent)
- Engineers & Designers (7,560 postings, up 59 percent)
- Skilled Trades (3,652 postings, up 53 percent)
To read the full report, click here.