(KNSI) – Minnesota’s job market was not immune to challenges seen nationwide in July.
The Minnesota Department of Employment and Economic Development says 1,100 positions were lost across the state last month, which they deem not statistically significant. However, it was enough to bump the jobless rate to 3.2%, even with over 2,000 people leaving the workforce. The labor force participation rate slid to 67.8%.
The state’s jobs picture remains better than the country’s overall. The national unemployment rate has jumped to 4.3%, and the labor force participation rate is only 62.7%.
DEED Commissioner Matt Varilek says his department is still optimistic. “Despite monthly variance, Minnesota’s economy remains in a strong place…we’re monitoring dozens of business expansions that will create thousands of jobs, and DEED is working hard to grow the state’s labor force as our new workforce programs enroll and graduate participants.”
Minnesota gained over 29,000 jobs in the last year and wages are up 3.9%, above the rate of inflation. DEED says it has committed $35 million to new job training programs.
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