Unemployment Down in Michigan

This one is definitely a case of good news/bad news. The good news is that Michigan’s unemployment rate fell for the third straight month in Michigan. The bad news is that the .1% drop in unemployment brings it down to 14.6% from November’s 14.7%, and Michigan continues to have the highest unemployment rate in the nation. Chrysler and General Motors went through bankruptcy in 2009, causing Michigan to lose 100,000 manufacturing jobs, but modest hiring and recalls in the automotive sector in the latter half of the year and the slower pace of job losses in the service sector have stabilized the job market for now. Nationally, the unemployment rate for December remained at 10%, although revised figures show that the country showed jobs gain in November.