Revised Jobs Report Shows Weaker Growth in Minnesota
St. Paul, MN (KROC-AM News) - The latest jobs report from the Minnesota Department of Employment and Economic Development includes revised numbers for 2017 that indicate job growth in the state last year was much lower than earlier estimated.
The revised figures put Minnesota’s job growth rate at only 7-tenths of a percentage point for a net gain of just over 20,000 jobs. The earlier estimate put the year-over-year net gain in jobs at around 44,000. The growth rate for the previous 12 months was less than half the national rate.
Based on the revised statistics, Minnesota’s unemployment rate was steady in January at 3.3-percent with a net gain of about 2500 jobs. The seasonally adjusted rate for last month was almost a full percentage point below the national rate and a half point below Minnesota’s unemployment rate from January of last year.
The strongest job growth over the past year occurred in the Twin Cities area, which saw a net gain of almost 13,000 jobs. The net gain for the Rochester area was only a little over 300 jobs for a growth rate of just three-tenths of a percentage point.
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