MN Workforce Participation Rate Falls to COVID Lockdown Levels
St. Paul, MN (KROC-AM News) - State officials say the latest jobs report shows job growth in Minnesota in January came close to erasing the job losses that occurred in December.
The Minnesota Department of Employment and Economic Development says the seasonally adjusted unemployment rate for January was down 2-tenths of a point from the revised rate for December of 4.7 percent. The 4.5 percent statewide unemployment rate in January was the lowest since last March, but it was also well above the 3.2 percent rate from January of last year.
The monthly report shows Minnesota had a net gain of almost 52,000 jobs in January, which is about 1000 below the net job loss total from the previous month. Still, officials say the drop in the unemployment rate was largely due to people leaving the workforce. Minnesota's Labor Force Participation Rate fell a half percentage point from December to 67.9 percent. The rate has not been that low since April of last year, which was the lowest it had been since 1978.
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