Minnesota Unemployment Rate Drops In October
ST. PAUL, Minn. (AP) — Minnesota’s unemployment rate continued its slow decrease in October.
The state Department of Employment and Economic Development says Thursday that the Minnesota’s unemployment rate last month was 6.4 percent, which is a half-a-percent decrease from September. Employment commissioner Mark Phillips says that’s the lowest number of out-of-work people in Minnesota since the U.S. financial crisis in November 2008.
As usual, Minnesota’s state unemployment rate compares favorably to the U.S. unemployment rate of 9 percent in October.
Another positive sign is that Minnesota construction jobs saw their first year-over-year increase in October since April of 2006. Other sectors to add jobs in October include professional and business services and the information sector. Job losses occurred in education and health services, leisure and hospitality and financial activities.
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