Almost Zero Job Growth But Minnesota’s Jobless Rate Drops
St. Paul, MN (KROC-AM News) - A scarcity of workers continued to push Minnesota's unemployment rate lower last month even though the state experienced very little job growth.
The latest jobs data from the Minnesota Department of Employment and Economic Development shows the state’s seasonally adjusted unemployment rate fell a tenth of a point from August to 3.2% in September. It marked the third straight month the jobless rate has dropped but it remains almost a half percentage point above the jobless rate from September last year.
State officials say Minnesota only saw a net gain of about 100 jobs in September and the gains reported for August have been revised downward from 1100 to only 400 jobs. Over the past 12 months, the net gain in jobs is estimated at fewer than 5000 for a very weak job growth rate of 2-tenths of a percent.