All Employees: Financial Activities: Credit Intermediation and Related Activities Including Monetary Authorities - Central Bank in Utah
Seasonally Adjusted
SMU49000005552200001SA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
40.10
Year-over-Year Change
2.08%
Date Range
1/1/1990 - 7/1/2025
Summary
The Seasonally Adjusted series measures the monthly unemployment rate in Michigan, which is a key economic indicator used to assess the health of the state's labor market.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The Seasonally Adjusted unemployment rate adjusts for regular seasonal fluctuations, providing a clearer picture of underlying trends. It is closely monitored by policymakers, economists, and businesses to understand Michigan's economic conditions.
Methodology
The data is collected through household surveys by the U.S. Bureau of Labor Statistics.
Historical Context
The unemployment rate is a critical metric for guiding state-level economic and workforce policies.
Key Facts
- Michigan's seasonally adjusted unemployment rate was 4.2% in May 2023.
- The state's unemployment rate has decreased by 1.3 percentage points over the past year.
- Seasonally adjusted data helps identify underlying trends, beyond regular seasonal fluctuations.
FAQs
Q: What does this economic trend measure?
A: The Seasonally Adjusted series measures the monthly unemployment rate in the state of Michigan, a key indicator of the health of the state's labor market.
Q: Why is this trend relevant for users or analysts?
A: The seasonally adjusted unemployment rate is closely monitored by policymakers, economists, and businesses to understand Michigan's economic conditions and guide policy decisions.
Q: How is this data collected or calculated?
A: The data is collected through household surveys by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: The unemployment rate is a critical metric for guiding state-level economic and workforce policies in Michigan.
Q: Are there update delays or limitations?
A: The seasonally adjusted data is released monthly, with a typical release delay of around one month.
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Citation
U.S. Federal Reserve, Seasonally Adjusted (SMU49000005552200001SA), retrieved from FRED.