Minnesota’s unemployment sinks to record low in April
ST. PAUL, Minn. (KEYC) - Minnesota’s unemployment rate dropped to 2.2% in April from 2.5% in March, its lowest level ever recorded since such information started being reported back in 1976, according to numbers released today by the Minnesota Department of Employment and Economic Development.
“The only reason we haven’t gain them all back is because we have a historically tight labor market. We have about 2.7 jobs opening in Minnesota for every one person searching for them. Demographics of our state have long predicted challenges that came to our labor market. Employers are struggling to find workers across the state, despite the fact that you are seeing the growth here,” DEED Commissioner Steve Grove.
Minnesota gained 11,900 jobs, up 0.4% from March to April on a seasonally adjusted basis following the addition of 13,200 jobs the previous month. Gains were in manufacturing (up 1,800), Financial Activities (up 4,700), Professional and Business Services (up 3,900), Leisure and Hospitality (up 2,700), and Government (up 1,300). DEED says losses were in Mining & Logging (down 200 jobs), Construction (down 1,000 jobs), and Trade, Transportation & Utilities (down 1,700 jobs).
“Construction did take a hit, down about a 1,000 jobs this month. We are not entirely sure why that is, because construction has been one of the strongest industries in the state. We suspect and talking with some businesses, it might have something to do with supply chain challenges and material costs,” added Grove.
Minnesota lost 417,600 jobs from February through April 2020 and according to DEED has since gained 329,500 jobs as of April 2022, or 79% of the jobs lost.
In the last year, the Mankato metropolitan statistical area has added 1,274 jobs, or 2.3%, tying for 3rd of the MSA’s in the state with Rochester and behind the Twin Cities (2.9%) and Duluth (2.4%).
“We have been completely fortunate with amazing staff members and the people will find us, and it has just worked wonderfully,” said Jenna Odegard, owner of Hazelkin & Co.
“If you are at a restaurant just expect to wait a little longer because we are not at our full potential yet,” Coffee Hag operations manager Jenny Kelley said.
Nationally, the unemployment rate stayed the same at 3.6%.
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