Minn. Added 6,100 Jobs In August, Shrinking Unemployment
MINNEAPOLIS (WCCO) – State officials say Minnesota added more than 6,000 jobs last month and unemployment fell to 4.3 percent, the lowest it's been in nearly 8 years.
The Minnesota Department of Employment and Economic Development (DEED) announced Thursday that Minnesota employers added 6,100 jobs in August. In the last year, the state has gained more than 56,000 jobs. That's a 2 percent growth rate. The national growth rate is slightly lower, at 1.8 percent.
"The August employment figures are great news and a reflection of Minnesota's healthy and growing economy," said Katie Clark Sieben, the DEED commissioner, in a press release.
She added that since the low point of the recession in 2009, the state has added more than 200,000 jobs.
More than 80 percent of the jobs added in August were in the construction and professional and business sectors, DEED said. Other industries – such as manufacturing, information, government, logging, mining, health services, and utilities – also added jobs.
The only job losses in August came in the hospitality and financial activities sectors.
While the overall state unemployment rate went down, there still exists a disparity in racial demographics, DEED numbers show. The unemployment rate for white Minnesotans is at 3.9 percent, while the rate for Hispanic Minnesotans is at 8.7 percent and the rate for black Minnesotans is at 10.4 percent.
Still, there has been some improvement. Twelve months ago, the black unemployment rate was much higher, at 15.1 percent. On the flip side, the unemployment rate for Hispanic Minnesotans has risen in the last year. It's up from 6.4 percent.