Overall unemployment rate moved down to 6.5% with the biggest shift in Restaurants & Hotels, which gained 100 roles, based on the most recently available information published in May 2023.
Total employment in the Saginaw, MI market rose by 5 jobs in March and the unemployment rate decreased compared to the prior month by 10 bps to 6.5%. The national unemployment rate decreased by 27 bps over the same time to 3.6%.
- Saginaw, MI unemployment rate is 288 bps above the national rate which is a negative sign.
- Unemployment in the market is 80 bps above the unemployment rate in the market last year at this time, which is a negative.
- Average wages (per hour) grew in March versus prior month by 8% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 0.5% . Key sectors include:
- Transportation & Utilities: 16,100; no change
- Education & Healthcare: 15,400; no change
- Manufacturing: 11,400; +100
- Government: 11,400; no change
- Business Services: 9,500; +100
- Restaurants & Hotels: 8,300; +100
- Financial Services: 3,800; no change
- Other Jobs: 3,300; no change
- Construction, Mining: 3,100; +100
- IT & Development: 900; no change
Data is based on the most recent 12 months available, through March 2023 (Data published May 2023 and reports created on May 9,2023). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.