Minnesota’s Unemployment Rate Steady at 3.7-percent
Rochester, MN (KROC AM News) - Minnesota’s seasonally adjusted unemployment rate was steady at 3.7-percent last month even though the state saw a net gain of about 11,800 jobs in February.
It was the seventh straight month the rate has been at that level, and is almost 2-percentage points below the national average.
The State Department of Employment and Economic Development noted the number of jobs lost in January has been revised downward from nearly 8,000 to about 4,900. Over the past year, Minnesota has seen a net gain of just under 45,500 jobs for a growth rate of 1.7-percent, which continues to lag behind the national rate of 2.4-percent.
The February jobs report also shows Minnesota’s labor force participation rate edged above 70-percent and pushed the size of the state’s labor force above 3-million for the first time.
The report put Rochester’s job growth at 1.2-percent with a net gain of about 1200 jobs over the past 12-months.
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