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The unemployment rate is falling in Michigan, prompting more 'help wanted' signs.

(Paula Gardner)

Fewer people are seeking work in Michigan than they are across the U.S. for only the second time since August 2000, according to data released today by the state.

Michigan's seasonally adjusted unemployment rate was 4.8 percent in February, compared to 4.9 percent for the nation.

The state also showed a net gain of 32,000 people employed in Michigan during February.

A year ago, Michigan's unemployment rate was 5.9 percent, according to state records. It peaked in June 2009 at 14.9 percent.

Meanwhile, Michigan had 4.313 million payroll jobs last month, an increase of 91,000 from 2015.

In the state's largest labor market - the Detroit-Dearborn-Warren statistical area - the unemployment rate was 5.8 percent, with the number of jobs growing by 31,000 year-over-year.

State officials said the data indicates a sound labor market for Michigan.

"Individuals have been entering or reentering the state's workforce at a good clip recently as payroll jobs continue to grow," said Jason Palmer, director of the Bureau of Labor Market Information and Strategic Initiatives, in a news release.

However, even as employment grows, Michigan still hasn't regained the number of jobs lost since its peak employment in spring 2000, according to a recent report by George Fulton and Donald Grimes of the University of Michigan.

"By the end of 2018, we are forecasting that the state will replenish 73 percent, or about three in four, of the number of jobs lost from the spring of 2000 to the summer of 2009," they wrote.

Fulton and Grimes made that remark in an economic forecast for Washtenaw County, released on March 22. In that report, they note that the Ann Arbor area has an unemployment rate of 3.6 percent, and that the county already exceeded the number of jobs lost during the recession.

A look at the auto industry forecast suggests ongoing recovery for Michigan: Fulton and Grimes expect light vehicle sales to reach 17.8 million this year, then to hold at a record 18 million in both 2017 and 2018.

"Detroit Three" market share, they said, should climb from 43.6 percent in 2015 to 44.2 percent this year, then hold at 44.5 percent in 2017 and 2018.