Overall unemployment rate moved up to 6.6% with the biggest shift in Transportation & Utilities, which lost 300 roles, based on the most recently available information published in April 2023.
Total employment in the Saginaw, MI market declined by 6 jobs in February and the unemployment rate increased compared to the prior month by 30 bps to 6.6%. The national unemployment rate increased by 3 bps over the same time to 3.9%.
- Saginaw, MI unemployment rate is 271 bps above the national rate which is a negative sign.
- Unemployment in the market is 10 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in February versus prior month by 8.6% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs declined by -0.5%. Key sectors include:
- Transportation & Utilities: 16,100; -300
- Education & Healthcare: 15,300; no change
- Government: 11,400; +100
- Manufacturing: 11,300; -100
- Business Services: 9,400; no change
- Restaurants & Hotels: 8,200; no change
- Financial Services: 3,800; no change
- Other Jobs: 3,300; no change
- Construction, Mining: 3,000; -100
- IT & Development: 900; no change
Data is based on the most recent 12 months available, through February 2023 (Data published April 2023 and reports created on April 10, 2023). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.