Minnesota created 7,400 new jobs in October, which is the most of any month so far in 2019
The unemployment rate slowly dropped from 3.4 percent in July to 3.3 percent in August and 3.2 percent in September—where it stayed for the month of October. This time last year the state was experiencing the lowest unemployment rates since May 1999 with four straight months at 2.8 percent.
The national unemployment rate increased slightly from 3.5 percent in September to 3.6 percent in October.
An added 7,400 jobs are the most Minnesota has seen all year. In comparison, Minnesota added just 1,600 jobs in the month of September and 7,000 total jobs across the four months of March to June.
“There continues to be a high demand for workers in the state,” said Minnesota Department of Employment and Economic Development (DEED) Commissioner Steve Grove in a press release.
“While this is good news for workers, it means we need to do more to ensure Minnesota businesses have the employees they need to thrive, and that we are helping Minnesota workers prepare for in-demand occupations,” he added.
According to data released by DEED, the Minneapolis-St. Paul Metropolitan Statistical Area (MSA) was the only MSA in the state to lose jobs at a loss of 908 in October. The MSA of Rochester, however, added the most jobs in October and is up 1,268.
The state’s labor force participation rate rose to 70.3 percent while the employment-to-population ratio increased to 68 percent, which is the highest it has been since 2008.
Over the month of October, five industry sectors gained jobs while two sectors lost jobs. Leisure and hospitality gained the most (up 4,900), followed by trade, transportation and utilities (up 2,500), manufacturing (up 1,300), construction (up 800) and government (up 200).
The information and financial activities sectors were both down 1,000 jobs.
President Donald Trump continues to point to the success of the economy in his reelection efforts. He said on Twitter this week that the “economy is booming” and “seems to have set yet another record day.”
Economy is BOOMING. Seems set to have yet another record day!
— Donald J. Trump (@realDonaldTrump) November 12, 2019
He later declared that the Democrats “would love to see a nice, big, juicy recession.”
“In actuality, the potential for the United States is unlimited,” he added. “We will power through the Do Nothing Dems.”
Another Record Stock Market, 21 times this year, despite an ongoing, & totally unfounded, Witch Hunt, & a Democrat Party that would love to see a nice, big, juicy recession. In actuality, the potential for the United States is unlimited. We will power through the Do Nothing Dems!
— Donald J. Trump (@realDonaldTrump) November 15, 2019
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Anthony Gockowski is managing editor of Battleground State News, The Ohio Star, and The Minnesota Sun. Follow Anthony on Twitter. Email tips to [email protected].”
