DEED: 14 months of job growth in Minnesota
ST. PAUL, Minn. (KEYC) - According to new numbers released by the Minnesota Department of Employment and Economic Development, the state has seen 14 straight months of job growth with the state adding 6800 jobs in November.
DEED says Minnesota’s unemployment rate rose two-tenths of a point to 2.3% in November, but remains historically low and below the national unemployment rate of 3.7%.
Minnesota’s labor force participation rate remained steady at 67.9%.
“Minnesota’s economy remains strong and has grown faster than most states in 2022,” said DEED Commissioner Steve Grove. “Fourteen straight months of job growth is a good sign as we head into the new year. If you’re looking for good employment with strong wages, Minnesota is a great place to be.”
Comparing Minnesota to the U.S. year-to-date, DEED says Minnesota’s employment has grown 3.2% since January 2022 while the U.S. has grown 2.6%. Over the last three months, September to November, Minnesota has grown 0.8% while the U.S. has grown 0.3%.
Between November 2021 and November 2022, the Mankato metropolitan statistical area added 1,501 jobs, or saw a 2.7% increase. That is the 3rd highest increase of the MSA’s in the state after the Twin Cities and Rochester.
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