MI Jobless Rate Climbs to 12%

Michigan posted its third straight month of painful, double-digit unemployment in February, with a nation-leading 12 percent of the state’s work force out of a job.

“This would be the highest rate the state’s had since January 1984, when the rate was 12.1 percent,” said Bruce Weaver, an economic analyst with the state.

Dana Johnson, chief economist for Comerica Bank, called the jobless figure released Wednesday “grim, quite simply.”

“We have the highest unemployment rate now in Michigan in 25 years, roughly 4 percentage points above the national average,” he said.

“It just documents what everybody knows: The local economy is going through a terribly challenging time. It’s just as tough as can be.”