Minnesota's unemployment rate dropped again this month, according to figures released today by the state's Department of Employment and Economic Development (DEED). The unemployment rate fell to 5.2%, the lowest it's been since May 2008.
Private employers added 2,500 jobs, which was offest by 2,100 government jobs that were lost, making a total of only 400 jobs added in the state. Even though such a small number of jobs were created last month, the unemployment rate dropped largely because of lower workforce participation.
The bulk of the jobs being created in Minnesota continue to be in the metro area, says Steve Hine, director of the DEED Labor Market Information Office, “The Twin Cities is up in employment over last year by over 51,000 jobs, up 2,9%. So, essentially, 51,000 out of 54,000 jobs increased over the year were in the Twin Cities.”