Monday, January 5, 2015

Detroit Metro Area Unemployment Rate Drops From 15.0% in 2009 to 7.0% in November 2014

The US Bureau of Labor publishes average annual unemployment rates starting with 2009 for all 49 US Metropolitan areas with populations of more than 1 million based on the 2000 US Census.

The Detroit/Warren/Livonia Metropolitan Area had an average annual unemployment rate of 15.0% for 2009, the highest of the 49 large metropolitan areas.

On the other hand, the unemployment rate in this same Detroit/Warren/Livonia Area had dropped precipitously to 7.0% in the most recently reported November 2014.

The State of Michigan has experienced very similar unemployment rates to that of the Detroit Metro Area.  The unemployment rate of the State of Michigan dropped from 14.2% in August 2009 to 6.7% in the most recently reported November 2014.