United States Congress Joint Economic Committee

Michigan

October 2019

Labor Market (BLS/Haver)
Most Recent Prior Month 12 Mo. Prior
Michigan Unemployment (U-3) 4.2% 4.3% 3.9%
U.S. Official Rate (U-3) 3.5% 3.7% 3.7%
U.S. "Real" Rate (U-6) 6.9% 7.2% 7.5%
Michigan Labor Force Participation Rate 61.9% 61.9% 61.3%
U.S. Labor Force Participation Rate 63.2% 63.2% 62.7%
Prices (BLS/Haver, AAA)
Most Recent Prior Month 12 Mo. Prior
CPI-U Inflation 1.7% 1.7% 2.3%
"Core" CPI Inflation 2.4% 2.4% 2.2%
National Gas/gal. Updated 10/16/19 12:00 AM $2.66 $2.56 $2.88
Michigan Gas/gal. $2.70 $2.56 $2.83
Midwest Region: Loaf of Bread $1.18 $1.16 $1.14
Midwest Region: Milk/gal. $2.30 $2.22 $1.98
Economic Growth (BEA, WSJ/Haver)
U.S. Real GDP
Q2/2019 (3rd Estimate)
2.0%
MI Real GDP
Q2/2018
5.4%
S&P 500 (YTD)
19.50% Updated 10/16/19 5:00 AM
Minimum Wage (DOL/WHD)
National Hourly Rate
$7.25
MI Hourly Rate
$9.45
Last Generated: 10/16/19 5:14 AM