Minnesota’s Jobless Rate Drops Despite Job Losses
St. Paul, MN (KROC-AM News) - Minnesota’s seasonally adjusted unemployment rate slipped back below 4-percent last month.
The latest numbers from the Minnesota Department of Employment and Economic Development show the jobless rate for September was down two-tenths of a point from August at 3.8-percent even though the state saw a net loss of about 5700 jobs. For the past 12 months, the state has gained about 35,000 jobs for a job growth rate of 1.2-percent.
Nearly all of that growth has occurred in the Twin Cities area. Rochester’s job growth rate for the past year is below a half-point with a net gain of only about 400 jobs. Since the start of the year,
Minnesota’s unemployment rate has been under 4-percent in 7 of the 9 months, but the September jobless rate was a tenth of a point higher than the rate from September of last year.