Minnesota outperforms rest of country in several economic measures

Tuesday, October 17, 2017

Minnesota broke through the 3 million jobs mark in June for the first time ever, according to figures by the Minnesota Department of Employment and Economic Development.

State employers added 9,300 jobs in June and 7,700 jobs in July.

The unemployment rate remained steady at 3.7 percent in July, while the U.S. unemployment rate was 4.3 percent. The unemployment rate was 3.6 percent for McLeod County and Meeker County in July.

“Minnesota is outperforming the rest of the country in a number of key economic measures, including the overall unemployment rate, labor force participation and employment-to-population ratio,” said DEED Commissioner Shawntera Hardy. “Nine of the state’s 11 industrial sectors are growing faster than the national average.”

June marked eight years since the end of the Great Recession and the beginning of the recovery.

Over the course of the expansion, Minnesota added 314,261 jobs (11.7 percent increase). The United States experienced the same rate of increase. Of the jobs added in Minnesota, 97.5 percent were in the private sector.

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