Michigan unemployment drops 97,000 to fall beneath 500,000
A “Now Hiring” sign sits outside a Ross Dress for Less store, in North Miami Beach, Fla. Unemployment remains painfully high in the U.S. even as economic activity is slowly picking up.
(The Center Square) – New unemployment claims in Michigan reported for the week ending August 1 continue to dip slightly under the previous week’s numbers.
According to data compiled by the U.S. Department of Labor, Michigan registered 17, 029 new unemployment claims for the week ending August 1, a drop of 6,901 new claims for the week ending July 25, during which the state added 23,219 new claims.
The state’s total unemployment stands at 495,387, 97,320 claims less than the prior week’s 592,707 adjusted tally.
According to the DOL, the largest increases in initial claims for the week ending July 25 were in Virginia (+5,020), Nevada (+2,842), Missouri (+2,606), Indiana (+2,218), and New Jersey (+2,141), while the largest decreases were in California (-44,941), Georgia (-37,329), Florida (-17,514), Louisiana (-13,568), and Texas (-11,104).
In the week ending August 1, the advance figure for seasonally adjusted initial claims was 1,186,000, a decrease of 249,000 from the previous week’s revised level. The previous week’s level was revised up by 1,000 from 1,434,000 to 1,435,000. The 4-week moving average was 1,337,750, a decrease of 31,000 from the previous week’s revised average. The previous week’s average was revised up by 250 from 1,368,500 to 1,368,750.
The advance seasonally adjusted insured unemployment rate was 11.0 percent for the week ending July 25, a decrease of 0.6 percentage point from the previous week’s unrevised rate. The advance number for seasonally adjusted insured unemployment during the week ending July 25 was 16,107,000, a decrease of 844,000 from the previous week’s revised level.
