Minnesota’s unemployment rate hits historic low

ST. PAUL — Minnesota’s unemployment fee reached 2.2% in April, the bottom degree for the reason that state first began monitoring the statistic almost 50 years in the past.

April’s unemployment fee was down from 2.5% in March, marking the seventh month the determine has decreased, the Minnesota Division of Employment and Financial Growth reported Thursday, Might 19. The nationwide unemployment fee for April was 3.6%.

State officers attributed the unemployment fee drop fully to folks shifting from unemployment to employment. As Minnesota’s unemployment continued to say no, its workforce participation fee elevated from 68.1% to 68.3%, state employment division officers mentioned. In the meantime, the nationwide workforce participation fee declined 0.2% to 62.2%.

Minnesota has not regained all the roles it misplaced firstly of the COVID-19 pandemic. In February-April of 2020 the state misplaced greater than 417,000 jobs and as of April 2022 added 329,500 jobs — 79% of that loss.

Minnesota gained 11,900 jobs from March to April. Progress sectors in April included 1,800 manufacturing jobs, 4,700 jobs in monetary actions, 3,900 in skilled and enterprise providers, 2,700 in leisure and hospitality and 1,300 in authorities. The development business misplaced 1,000 jobs and commerce transportation and utilities misplaced 1,700. Mining and logging misplaced 200.

“Our economic system stays sturdy, job development continues, and extra folks proceed to return to work,” employment division Commissioner Steve Grove mentioned in a press release. “Nevertheless, racial disparities in employment stay.”

Unemployment dropped amongst white, Black and Hispanic Minnesotans in April, however at 6.7% Black unemployment stays considerably greater than the state as a complete.

Groves mentioned his company is dedicated to serving to all Minnesotans join with employers in want of employees.