Rochester Area Economy Continues to Lead State For Job Growth
Rochester, MN (KROC-AM News) - For a second straight month, the Rochester area led the entire state for job growth in August.
The latest data released by the Minnesota Department of Employment and Economic Development shows the Rochester Metropolitan Statistical Area, which includes portions of some neighboring counties, added more than 7100 jobs over the past 12 months for a job growth rate of 5.7%. By comparison, the entire Twin Cities area saw a net gain of only about 1800 jobs during the same time period.
Minnesota's seasonally adjusted unemployment rate rose a tenth of a percentage point last month even though Minnesota employers added about 14,400 jobs in August. The Minnesota Department of Employment and Economic Development says it was the largest monthly jump in jobs since July 2022.
The Federal Bureau of Labor Statistics also revised the unemployment figures for Minnesota from last month. The previous report stated that Minnesota saw a net loss of about 1100 jobs, but that has now been changed to a net gain of about 2500 positions.
Over the past 12 months, Minnesota's economy has added nearly 41,700 jobs for a job growth rate of 1.4%. A news release indicates the national job growth rate stands at about 1.5%.
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