Rochester Area Job Growth at 4.7%, Still #1 in Minnesota
Rochester, MN (KROC-AM News) - Rochester's job growth rate slowed a bit last month but remains, by far, the strongest in the state.
The latest jobs statistics released by the Minnesota Department of Employment and Economic Development put the annualized job growth rate for the Rochester area at 4.7% in March. That represents a net gain of nearly 5800 jobs since March of last year. By comparison, the job growth rate reported in February was 5.2%
READ MORE: Rochester's Job Market Booms While Other Cities Lag
The report shows the Twin Cities metropolitan area added more than 12,300 jobs during the past 12 months, but that only works out to a job growth rate of 6-tenths of a percentage point. St. Cloud added about 500 jobs for a job growth rate of a half of a percentage point, while both Mankato and Duluth experienced a net loss of nearly 500 jobs during the previous year.
Minnesota's seasonally adjusted unemployment rate edged slightly upward in March to 3.1%. In March of last year, the jobless rate was 2.9%.
The slight increase in the unemployment rate was reported even though state officials say Minnesota enjoyed a net gain of about 10,700 jobs last month. It was the largest monthly job gain in a year.
Over the past 12 months, Minnesota has gained more than 37 500 jobs for a job growth rate of 4-tenths of a percent. Nationally, the job growth rate was only 1-tenth of a percent and the nationwide unemployment rate was 4.2%.
More Minnesota News:
- Fire at Dodge Center Hardware Store Under Investigation
- Update: Rochester Stabbing Sent Two People to the Hospital
- Shooting Reported Near Rochester Clinic
9 Things That'll Get You Kicked Out Of A Minnesota Twins Game
Gallery Credit: troy dunken
More From KROC-AM
