The roller coaster that is the State of Minnesota job creation was down for August. We lost 2,500 jobs yet the unemployment rate went down. A likely sign that some have left the workforce pool.

While some jobs have been lost 71,653 jobs in the past year have been created, a 2.6% increase compared to the 1.3% national rate. On average the state creates between 30,000 and 45,000 jobs.

Unemployment rate:

August ’06, 3.7%

July ’06, 3.8%

June ’06, 3.6%

Jobs Created/Lost:

August ’06, -2,500

July ’06, +11,600