Minnesota’s Unemployment Rate Continues Dropping
St. Paul, MN (KROC-AM News) - Minnesota’s unemployment rate last month was down almost a full percentage point from a year ago at 3.1-percent.
The Minnesota Department of Employment and Economic Development says the seasonally adjusted rate was the lowest it has been since July 2000. It was down three-tenths of a point from October and was a full percentage point under the national unemployment rate.
The monthly jobs report indicates the rate dropped even though Minnesota experienced a net loss of about 4000 jobs last month. Over the past year, the state has seen a net gain of over 34,500 jobs, for a job growth rate of 1.2-percent, which trails the national rate by two-tenths of a point.
The leisure and hospitality sector economy shed 7500 jobs in November and the services sector lost another 1500 positions, while the trade, transportation and utilities sector reported a gain of 2300 positions and the construction sector added 1800 jobs.