Minnesota Employment Totals Still Below Pre-Pandemic Levels
St. Paul, MN (KROC-AM News) - The latest jobs data from the state shows Minnesota's economy added about 7700 jobs last month but total employment was slightly lower than it was in May of last year.
The Minnesota Department of Employment and Economic Development today reported overall employment in the state rose to just over 3.003 million in May. A year ago, the total was about 500 higher and the seasonally adjusted unemployment rate was a half percentage point lower than the 2.9% jobless rate for last month.
The report also shows a slight improvement in Minnesota's labor force participation rate, which is among the highest in the US at 68.2%. The data indicates the state's labor force grew by nearly 3600 people from April but it remains more than 32,000 below the level reached in February 2020 before the COVID-19 pandemic economic shutdown.
In comparison, the national unemployment rate stood at 3.7% in May and the labor force participation rate for the entire nation was only 62.6%.
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