Jobless rate drop, tax revenue jump boost Michigan's economic outlook
Michigan's economic news continued to improve Wednesday as the unemployment rate fell to 8.3% and tax revenues ticked upward, contributing to a boost of more than $300 million for the state budget.
The April jobless rate dropped two-tenths of a percentage point from March, despite 3,000 more people looking for work, according to data released by the Michigan Department of Technology, Management & Budget.
It's Michigan's lowest monthly jobless rate since July 2008 and puts the state close to April's national unemployment rate of 8.1%.
In another sign of increased economic activity, officials meeting at the state Capitol determined Michigan can expect about $196 million more in tax revenues for 2012 and 2013 than was anticipated four months ago, when the last revenue-estimating conference was held.
full: http://www.freep.com/article/20120517/NEWS15/205170724/Jobless-rate-drop-tax-revenue-jump-boost-Michigan-s-economic-outlook
Meanwhile, the AP reports also: Mich. low-income families to pay more tax, due to "reductions in the state's earned income tax credit."
