Detroit’s unemployment still below July’s high

  • From August 2014 to September 2014, the unemployment rate across the state remained stagnant while the City of Detroit’s increased (monthly);
  • The Purchasing Manager’s Index for Southeast Michigan increased from August 2014 to September 2014 (monthly);
  • Commodity Price Index decreased from August 2014 to September 2014 for Southeast Michigan (monthly);
  • Wayne, Oakland, and Macomb counties all experienced decreases in the number of monthly building permits pulled.

Slide02According to the most recent data provided by the Michigan Department of Technology, Management and Budget, from August to September the unemployment rate for the state of Michigan remained steady at 6.7 percent. The city of Detroit a experienced slight unemployment rate increase — from 14.4 percent in August to 14.6 percent in September. The unemployment rate in Detroit has decreased 2 points since September of 2013.

Slide04

From August to September the number of people employed in the City of Detroit decreased by about 109, leading to a total of to 285,018 people employed.

Slide06

The above chart shows the number of people employed in the auto manufacturing industry in the Detroit Metropolitan Statistical Area (MSA) (Detroit-Warren-Livonia) from September 2013 to September 2014. During the period under consideration, the highest employment levels in the auto manufacturing and auto parts manufacturing industries occurred in June 2014, when there were 99,100 people employed in the Detroit MSA. That number dropped by 3,700 people to a total of 95,400 people employed in September; however, this is also an increase of 3,800 from the month of July.

Slide08

The Purchasing Manger’s Index (PMI) is a composite index derived from five indicators of economic activity: new orders, production, employment, supplier deliveries, and inventories. A PMI above 50 means the economy is expanding.

According to the most recent data released on Southeast Michigan’s Purchasing Manager’s Index, the PMI for September was 59.4, a positive increase of 4.6 points from the prior month and a decrease of .5 points from last year at this time.

Slide10

The Commodity Price Index, which is a weighted average of selected commodity prices, was recorded at 55.7 points in September, which was 7.4 points lower than the previous month and 1.5 points higher than a year ago.

Slide12 Slide13 Slide14

The above charts show the number of residential building permits obtained each month in Wayne, Oakland, and Macomb counties from January 2013 until September 2014. These numbers are reported by local municipalities to the Southeastern Michigan Council of Governments and include single-family units, two-family units, attached condos, and multi-family units.

Two of the three counties experienced a decrease in the number of building permits pulled from August 2014 to September 2014. Oakland experienced a decrease 51 building permits from August to September while Macomb County experienced a decrease of 48 and Wayne County pulled the same number of building permits in September of this year as it did last year, 54.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s


%d bloggers like this: