Job increases were recorded in the transportation, trade, and utilities sector, which added 5,000 jobs. Smaller job growth which was around 2,000 each were recorded in financial activities, other services, and government. Counteracting losses were recorded in construction, which lost 5,000 jobs over the month before. All the figures were seasonally adjusted by Michigan state’s formula and indicate the best jobless rate since 2001.
Data for the longer term gives an indication of the direction of Michigan’s economy. The biggest jobs generators over the past year include the professional and business services sector and the education and health services industry, both often called the knowledge jobs of the future. Professional and business services added 26,000 jobs over the past 12 months while health services and education added 17,000.
Michigan manufacturing also added 21,000 jobs over the past tear. But interestingly, more Michiganders now work in each of the first two sectors than in the state’s factories.
In Huron Township’s Local Development Finance Authority district, the LDFA1 has contrubuted 800 manufacturing jobs in the past year and LDFA2 is considered a smart zone as well which is hopeful to attract even more new business. The Local Development Finance Authority Huron Township, MI is a beacon for economic growth in the area. More information at www.hurontwpldfa.com .