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Minnesota employers cut jobs, but jobless rate falls

Minnesota employers cut jobs, but jobless rate falls Click to Enlarge Photo:

May 18, 2012 at 7:53 am

ST. PAUL, MN (AP) - Minnesota continued to lose jobs in April, and at a greater number. Yet, the state unemployment rate inched down slightly to 5.6 percent and remains well below the national rate of 8.1 percent. 
 
Labor analysts say the decline in the seasonally-adjusted rate might be the result of fewer people in the workforce due to more baby boomers retiring. The Department of Employment and Economic Development says employers cut 3,100 jobs in April, mainly in the retail, construction, hospitality and government sectors. The decline follows a loss of 200 jobs in March.
 
The 5.6 percent April unemployment rate in Minnesota is 0.2 percent below the previous month. The Star Tribune (http://bit.ly/Lav2KA) says despite recent monthly losses, the state overall gained 14,700 jobs in the past year.

 

 

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