Depending on which day you look, the unemployment news may be good or bad, despite the actual numbers. There are so many conflicting reports spun by the media, it’s difficult for the average person to discern the state of national and local economies.
Why do you need to understand these numbers? Well, knowing the state of the economy in the area is key is making decisions like going to school vs. relocating for a job vs. drawing unemployment benefits until the layoffs are over. Here are some important numbers concerning Michiana:
Michigan Numbers
In April 2010, the unemployment rate was 14.9 percent. This means that 14.9 percent of the Michigan workforce was out of work in that month. This percentage may seem small, but consider the population numbers and that’s approximately 682,000 people out of a labor force of more than four million. Now that number comes into focus doesn’t it. The national rate is 9.9 percent.
Job growth increased nationally from April to March 2010, indicating that the end of the recession is close. However, the situation for the state of Michigan is dire as long as the state is in double-digit unemployment rates. Furthermore, the rise was less than one percent. A comparison of April 2010 and April 2009, just one year, shows that the touted improvement is still a long way away from the norm.
Education, health, mining and logging industries grew the most in April 2010. Industries like information and the financial sectors lost jobs once again in April.
Indiana Numbers
The big news in Indiana was the 22,700 new jobs added in April 2010. However, these were not jobs filled by people on unemployment, but jobs openings from businesses. The unemployment rate in Indiana was still in the double digits at 10 percent. The number actually dropped from March 2010 but was still less than April 2009.
The new job openings were in the service industry, hospitality, and even manufacturing, transportation and utilities. The growth is just in time for the opening of tourism season in Indiana. Education, construction and the financial sector actually lost jobs in April.
Michiana Areas of Focus
These numbers show that Michiana is still in the midst of a severe job crisis…but we recovering however slowly. Go to the Bureau of Labor Statistics and the economy at a glance section. Choose Michigan or Indiana. The numbers are changed each month, and you can track them yourself.
