(KNSI) – According to the Minnesota Department of Employment and Economic Development 2,800 more residents in the Saint Cloud metro area have a job than at the same time last year. That mirrors generally positive hiring trends across the state as the overall unemployment rate falls to 2.7%. The measure is at its lowest level in over 20 years.
DEED says the number isn’t quite as good as it looks. “The pandemic caused some people to drop out of the workforce, lowering labor force participation, which resulted in an unemployment rate below what would be expected given job losses.” The State of Minnesota has over 100,000 fewer people employed today compared to February 2020.
Manufacturing was the best-performing industry sector in February.
Written by Grant Dossetto
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