Job Growth in Minnesota Far Smaller Than Previously Reported
St. Paul, MN (KROC-AM News) - Minnesota experienced a slight uptick in its unemployment rate in January.
A new jobs report released today by the Minnesota Department of Employment and Economic Development shows the seasonally adjusted jobless rate rose a tenth of a point from December to 3-percent. A year ago, the rate was slightly higher at 3.1-percent and it marked the first time in 8-months it has been at, or above, 3-percent.
State officials estimate Minnesota’s economy saw a net gain of about 3800 jobs in January, while the previously reported gain of 500 jobs in December has been revised to a net loss of 800 jobs.
The agency also dramatically lowered its estimate of the number of jobs gained last year. It had been pegged at over 31,000 but now, based on updated federal statistics, the job gain total for the 12 month period has been lowered to just over 10,000.