Local Unemployment Rate Dips Below 3%
The unemployment rate for the Rochester area has dropped below three-percent for the first time since before the 9/11 terrorist attacks.
The latest statistics from the Minnesota Department of Employment and Economic Development show the jobless rate for Olmsted County fell four-tenths of a point last month to just 2.7-percent. That is down nearly a full point from October of last year and is the lowest the unemployment rate has been in Olmsted County since it hit 2.2 percent in May 2001.
The data also shows fewer than 2300 people in Olmsted County were classified as unemployed last month. That’s the lowest that number has been since September 2001.
Five other counties in the region, Dodge, Mower, Fillmore Wabasha and Winona, also saw their jobless rates slide below three-percent in October.
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