Dec 5, 2022 - Business
Unemployment rate ticks down
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Detroit's unemployment rate is falling significantly.
What's happening: Confidence about job availability is high. Three-quarters of unemployed Detroiters in the labor force report thinking they will return to work within a month, according to a June-August University of Michigan survey.
By the numbers: Black and Latino residents saw unemployment drop 6% between last November and August, while it rose 2% for white residents.
- But white residents' unemployment sits at 8%, compared with 16% for Latino and 18% for Black residents.
What they're saying: "Not only are unemployed residents looking to re-engage with the workforce, but employed residents are actively seeking out better opportunities," a news release on the report notes.