Unemployment
Goal:
Measure
The measures include the percentage of unemployed persons in relation to the
total labor force measured yearly since 2012 and monthly for 20114 by month and year. Unemployed
persons are defined as those with no job, who are actively seeking work.
Why This Indicator is Important
Unemployment rates measure employment conditions in a given area and the
ability of residents to take advantage of available employment opportunities.
Participation rates reflect the percentage of the population that is in the
labor force.
By comparing the percentage of individuals participating in the labor force to those able to find work, we can gain a greater perspective on unemployment in Midland County. We can then design strategies to address barriers to employment. It is also important to look at the percentage of people that have dropped out of the labor force and are no longer looking for work, as they are not counted in the unemployment rate.
By comparing the percentage of individuals participating in the labor force to those able to find work, we can gain a greater perspective on unemployment in Midland County. We can then design strategies to address barriers to employment. It is also important to look at the percentage of people that have dropped out of the labor force and are no longer looking for work, as they are not counted in the unemployment rate.
How Are We Doing?
From 2012 to 2014, unemployment rates in Midland County remained lower
than Michigan’s rates and US averages. Since 2012, Midland County’s unemployment
rate has remained 1 percent below Michigan’s rate. Data shows that since
January of 2014, Midland County has had a steady unemployment rates
that remained below federal levels and 1 percent below state levels
until late in the year even as unemployment rates decreased across the U.S. and Michigan, where Midland's unemployment was at 5.9% compared to 7.2% for Michigan and 6.2% for the U.S.
From 2012 to 2014:
During 2014:
From 2012 to 2014:
- Midland County’s unemployment rate fluctuated from 7.4% (2012) up to 7.6% (2013) and down to 5.9% (2014).
- Michigan’s unemployment rate decreased from 9.1% (2012) to 8.8% (2013) to 7.2% (2014)
- The U.S. unemployment rate decreased from 8.1% (2012) to 7.4% (2013) to 6.2% (2014).
During 2014:
- Midland County’s monthly unemployment rate fluctuated between 7 and 6% throughout the year until it reached a 4% low in end of the year holiday season.
- During 2014, Michigan’s monthly unemployment rate
decreased steadily from 8% to under 6%, with slight fluctuations.
- The U.S. monthly unemployment rate decreased from 7% to 5.4% in 2014.
Qualitative Indicators for Impact
Economy