Minnesota (MN) unemployment rate falls slightly on job growth

Minnesota’s seasonally-adjusted unemployment rate fell two-tenths of 1 percent in November to 7.4 percent, a bit of promising news that reflected a growth in jobs including those in the construction industry.

The state’s jobless rate in November was 2.6 percentage points below the U.S. unemployment rate of 10 percent, according to figures released Thursday by the state Department of Employment and Economic Development.

DEED officials said Minnesota employers added 2,000 jobs in November. October’s job gains were also revised upward to 5,000 from 2,200.

“State labor markets continue to show signs of improvement,” DEED Commissioner Dan McElroy said in a statement. “We are also seeing a steady uptick in the average amount of hours worked, another sign of strengthening market conditions. I am optimistic about the positive trend of this employment data, but economic recovery is still in its early stages.”

Full report from Finance and Commerce.