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Our real estate market here in Southeastern Michigan has been rather interesting the past several years. We have been experiencing a down housing market made up of foreclosures and short sales. There have been huge housing inventories at times, significant drops in property values and to top it all off a down turn in our economy that has lead to a very sluggish market.

So with all that considered I thought that I would start putting out some relevant information that purchasers, sellers, investors or whomever for that matter could use to improve their chances of success in this market. I work in the industry, live in the market and want to put the knowledge I gain everyday out for others to benefit from.

I hope this helps, if there are things you would like to see, drop me a note.

Thanks - Nathan

Thursday, May 24, 2012

Michigan unemployment rate improves to 8.3% in April, as workforce grows by 3,000



Michigan’s unemployment rate kept moving in the right direction in April, dropping two-tenths of a percentage point to 8.3%.
Employment in Michigan is improving!
Data released this afternoon by the Michigan Department of Technology, Management & Budget showed that the state’s workforce rose slightly by a net increase of 3,000 workers.
Meanwhile, a monthly survey of employers showed that the number of jobs at major employers rose slightly in April by 5,000 to just under 4 million. April job additions were led by an increase of 6,000 jobs in professional and business services.
“The first four months of 2012 have been positive for Michigan’s labor market,” said Rick Waclawek, director of the Bureau of Labor Market Information and Strategic Initiatives. “Early 2012 has been marked by monthly employment gains and stable labor force levels.”
The state’s improving rate means that Michigan’s jobless level is now just slightly above the nation’s unemployment rate of 8.1% in April.
Michigan’s April 2012 jobless rate was the lowest for the state since the 8.2% rate reported for July 2008.
Meanwhile, April marked the fourth consecutive month that Michigan’s total workforce – a measure of those working or looking for work – rose. That means the jobless rate is coming down not because discouraged people are dropping out of the workforce but that the employment gains are real.
Source – Detroit Free Press
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