Unemployment Steady in Minnesota – But Higher Than Last Year
St. Paul, MN (KROC-AM News) - The latest jobs report from the Minnesota Department of Employment and Economic Development shows the state’s seasonally adjusted unemployment rate has been steady for the past four months, but it is slightly higher than it was a year ago.
The 3.8-percent rate for June was up 2-tenths of a point when compared to June of last year. The jobs report also shows the rate was steady even though Minnesota's economy had a net gain of about 7300 jobs last month. The report indicates the job gains in June were largely offset by a revision of the data from May. The updated report shows the state experienced a net loss of about 8400 jobs in May, compared to the previously reported loss of about 1900 positions.
For the past year, the state has added over 34,000 jobs for a job growth rate of 1.2-percent. By comparison, the national job growth rate last month was 1.8-percent, while the national unemployment rate for June was 4.9-percent.