Minnesota Has More Than 4 Job Openings For Each Unemployed Person
St. Paul, MN (KROC-AM News) - Minnesota's economy continued to add jobs last month but the unemployment rate still moved slightly higher.
The latest report from the Minnesota Department of Employment and Economic Development shows the state's seasonally adjusted unemployment rate rose a tenth of a point to 2% in September. It was the first time since May the rate has been at 2% or higher, but the jobless rate remains well below the 3.2% rate from September of last year.
State officials say Minnesota saw a net gain of 4200 jobs last month and its economy has now produced job growth in each of the last 12 months. Over the past year, Minnesota has added more than 93,700 jobs for a job growth rate of 3.3%. The national job growth rate for the same time span was 3.7%.
The report indicates Minnesota continues to experience one of the tightest labor markets in the US with 4.1 job openings for every unemployed worker. Despite the abundance of job opportunities, Minnesota's labor force participation rate fell a tenth of a point to 68.1%. That is still well above the national rate of 62.3%.