Northern Initiatives announced this week that the Michigan Jobless rate was down in December. Overall, the December data shows the jobless rate in Michigan is down to 3.9%. 63 of the 77 Michigan counties saw an increase in the jobless rate (including all 15 Upper Peninsula counties). “Nine of the 77 had lower rates and 5 remained the same.”
Rural counties saw an increase in jobless rates, but those with higher population centers had lower rates – resulting in an overall statewide decrease.
Northern Initiatives is a non-profit Community Development Financial Institution (CDFI), certified by the Community Development Financial Institution Fund (CDFI Fund) and the U.S. Department of the Treasury, who funds to CDFIs through a variety of programs. Northern Initiatives provides loans to small business owners, entrepreneurs, and community organizations that might not qualify for loans from traditional banks.