(KNSI) — The Minnesota unemployment rate has dropped to its lowest level since 2019, a seasonally adjusted 3.1%. The U.S. unemployment rate is almost a percentage point higher at 3.9%
In the monthly report released Wednesday, the Minnesota Department of Employment and Economic Development reported healthy job growth in the region. The St. Cloud area gained almost 5,000 new jobs over the past year, a 4.8% increase in employment from December of 2020.
Statewide, DEED reported Minnesota lost 2,000 jobs in December, but an upward revision in the November job totals meant the state has seen an increase of over 10,000 available jobs since October 2021. Minnesota’s labor participation rate remained steady at 67.7%.
In 2021, the state gained 168,000 jobs. Leisure and hospitality jobs showed the highest annual growth, gaining over 95,000 jobs since December of 2020, followed by the Professional and Business Services sector and Manufacturing.
To view the complete report, click here.
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