Minnesota’s unemployment rate has dropped below 5 percent for the first time in nearly six years as the state climbs further out of the deep hole caused by the Great Recession. The Department of Employment and Economic Development reports Thursday that October’s unemployment rate was 4.8 percent.
Minnesota businesses will see lower unemployment insurance taxes starting next year. The Minnesota Department of Employment and Economic Development says Tuesday that the unemployment insurance trust fund’s $1.2 billion reserve at the end of September was enough to trigger a tax cut.
Thousands of Minnesota veterans return home from combat duty every year. But when they get here, it’s sometimes tough to get a job. That’s only one of the struggles veterans face. Finding a job, getting health care services, fighting homelessness.
Minnesota has rebuilt the employment level it saw prior to the last recession and then some. A report Thursday from the Minnesota Department of Employment and Economic Development shows 12,200 jobs were gained in August.
Minnesota added 4,300 jobs last month but the state’s unemployment rate stayed at 5.2 percent, according to figures released Thursday by the Minnesota Department of Employment and Economic Development.
Unemployment rates rose in nearly all large U.S. cities in June as college graduates and many of those still in school began searching for jobs. The unemployment rate in Minneapolis was 5.1 percent, the lowest among the large cities.
Minnesota’s unemployment rate continued its downward trend in June, inching a tenth of a percent lower than May. The Department of Employment and Economic Development announced Thursday that the state’s jobless rate for June was 5.2 percent.
Minnesota state officials are getting ready to announce how the state’s economy performed in June. The Department of Employment and Economic Development is releasing the June unemployment rate Thursday morning. June’s numbers will follow an April and May in which the jobless rate stayed unchanged at 5.3 percent.
Minnesota’s unemployment rate is unchanged in May compared to the previous month, as employers added 8,400 jobs. That’s according to the state Department of Employment and Economic Development.
College students graduating and entering the job market said it’s tough to find work right now. Katie Roehl graduated in May from the University of Minnesota with a degree in communications. “I’m really open to anything right now,” Roehl said.
The U.S. economy added 175,000 jobs in May, a gain that shows employers are hiring at a still-modest but steady pace despite government spending cuts and higher taxes. The unemployment rate rose to 7.6 percent from 7.5 percent in April.
Minnesota lost 11,400 jobs in April, and state officials are attributing part of the drop to the persistent wintry weather. The Department of Employment and Economic Development says the cold, snowy April slowed hiring in seasonally sensitive sectors including construction, leisure and hospitality, and local government. The biggest job losses were in trade, transportation and utilities.
Minnesota released its April unemployment report on Thursday and while the state’s jobless rate dropped to a seasonably adjusted 5.3 percent, employers eliminated more than 11,000 jobs last month.
A budget bill approved Wednesday in the House would temporarily chop the rates to produce savings to businesses of $346 million over the next two years. The tax is based on the wages paid at for-profit companies.
A new report shows the unemployment rate for young adults in Minnesota is exceedingly high and is about twice the state overall average.