State Jobs Report Shows More Minnesotans Are Going Back to Work
St. Paul, MN (KROC-AM News) - Minnesotans are going back to work.
The State Department of Employment and Economic Development today reported Minnesota's seasonally adjusted unemployment rate fell 3-tenths of a percentage point to 2.2-percent in April. That is the lowest that figure has been since the state began tracking the statistic in 1976.
Perhaps even more significantly, Minnesota's labor force participation rate is the highest it has been since November 2020 at 68.3-percent. That compares very favorably to the national rate of 62.2-percent, which was down 2-tenths of a point from March.
State officials say Minnesota enjoyed a net gain of nearly 12,000 jobs last month. Over the past 12-months, the net gain is about 61,000 for a job growth rate of 2.5-percent. The national job growth rate now stands at 4.6-percent.
The monthly jobs report shows the Rochester Metropolitan Area has added about 2,700 jobs during the past year. That works out to a job growth rate of 2.3-percent.