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The average hourly earnings are the reported aggregate weekly payroll divided by the reported aggregate weekly hours.   Earnings may change for a number of reasons, such as, overtime premiums, late-shift work, shortage of labor, and/or changes to payroll structure (e.g., fewer high-wage/low-wage employees).   Average hourly earnings give us an idea of the current rate at which employees are being paid.

Average Hourly Earnings

The average weekly hours are the reported aggregate weekly hours divided by the number of employees paid for those hours.   Factors such as unpaid absenteeism, labor turnover, part-time work, and stoppages can impact average weekly hours trends.

Average Weekly Hours

Continued unemployment claims, also referred to as insured unemployment, is the number of people who have already filed an initial claim and who have experienced a week of unemployment and then filed a continued claim to claim benefits for that week of unemployment. Continued claims data are based on the week of unemployment, not the week when the initial claim was filed.   This measure gives an idea of how many people are considered unemployed.

Continued Unemployment Claims in Michigan

Continued Claims in Michigan

This measure tracks the number of first-time claims filed after an unemployed individual separates from an employer. The claim requests a determination of basic eligibility for the Unemployment Insurance program.  Initial unemployment claims give an idea of how many people are filing for unemployment.

Initial Unemployment Claims in Michigan

The insured unemployment rate is the number of people receiving Continued Claims (also called insured unemployment) divided by Covered Employment.  The insured unemployment rate can provide an early glimpse as to the direction of the conventional unemployment rate.

Insured Unemployment Rate in Michigan

The labor force components measure the labor supply for our region's establishments. Labor force components break down workers into employed (people, age 16+, with a part-time or full-time job) and unemployed (people, age 16+, who are not working but are looking for a job). People not looking for a job (e.g., full-time students, retirees, stay-at-home parents) are not part of the labor force.  Growth in the labor force provides the necessary talent to grow our region's economy.

Labor Force Components

The labor force participation rate is the percentage of people in the labor force divided by the working-age population. (The labor force is defined as people employed plus people who are unemployed, but looking for work).   Labor force participation measures how engaged the working-age population is in pursuing job opportunities.

Labor Force Participation Rate for Michigan

The unemployment rate measures the percentage of workers who do not have job and are looking for work. Generally, an unemployment rate of four percent or lower indicates an economy at full-employment, or everyone who wants a job is employed. (At the full-employment stage, those without a job are usually transitioning between jobs, or recently entered the labor force and started looking for a job.) Low unemployment rates, while challenging for firms, can improve wage growth and encourage new residents to move to our region in search of job opportunities.

Talent