MN unemployment rate at seven year low

Minnesota’s monthly unemployment rate fell to a 7 year low last month. The 4.6 figure was a tenth of a point lower than in April and compares to 5.1 percent in May a year ago. The Minnesota Department of Employment and Economic Development (DEED) says employers added 10,300 jobs during May. That has increased the year-over-year gain to nearly 46,000 jobs. DEED Commissioner Katie Clark Sieben cited the state’s construction and manufacturing sectors, which have each added more than 9,000 jobs in the past year. Only the financial sector reported an overall loss of jobs during the past year.

The May report

also includes year-over-year numbers from the state’s Metropolitan Statistical Areas. Leading the way was the St. Cloud MSA (up 3.9 percent), followed by Mankato (up 2 percent), Minneapolis-St. Paul (up 1.6 percent), Rochester (up 0.4 percent) and Duluth-Superior (up 0.1 percent).
Meanwhile, there is news today of job losses in the state. Advance Auto Parts has decided it will close its corporate office in Bloomington, where its CEO is based. The 100 jobs will be relocated to Raleigh, North Carolina.

And a commercial printing plant in St. Cloud will close later this summer. Quad/Graphics says the move will affect nearly 300 workers.