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Michigan jobless rate drops steeply to 11.7 percent, lowest rate in nearly two years Jan 16, 2011 // Christian ReynoldsNo Comments »LANSING, Mich. (AP) — Michigan’s unemployment rate dropped steeply in December, decreasing to its lowest rate in nearly two years.
The seasonally adjusted 11.7 percent rate for December was the lowest since January 2009, when it was 11.3 percent. The national unemployment rate for December was 9.4 percent.
Michigan’s latest rate was 0.7 percentage points below November’s rate of 12.4 percent.
The state Department of Energy, Labor & Economic Growth said Wednesday that total employment edged upward by 5,000 jobs. It says the state’s labor force dropped by 37,000, since fewer people are seeking jobs.
Michigan’s annual unemployment rate for 2010 was 13.1 percent, compared with 13.6 percent for 2009. It’s the first decline in the state’s annual jobless rate since 2005.
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