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Minnesota Jobs And Unemployment Rate Increase

Before getting into the latest numbers there is a trend that has been noticeable over recent months and years. A few months ago the local media and economic experts were critical of Minnesota job growth citing statistics that the country was on a faster clip.

   

Now they are all excited because Minnesota is outpacing the country. Are they not paying attention? Minnesota tends to be behind the curve. We saw the recession and recovery later than the rest of the country. The impact was also less here as has been the growth.

   

Call me a fool but maybe Minnesota is just a little more stable than other parts of the country…

   

Minnesota created 11,600 jobs in June yet the unemployment rate increased 0.2% to 3.8 because of 6,100 more people in the workforce.

   

That makes 13 months of job creation in Minnesota with 2.78 million employed.

   

79,250 jobs in the past year have been created, a 2.9% increase compared to the 1.3% national rate.

   

Unemployment rate

July ’06, 3.8%

June ’06, 3.6%

   

Jobs Created/Lost

July ’06, +11,600

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