The U.S. Department of Labor published the May 2012 MN unemployment rate at 5.6%. This rate is flat from the April 2012 rate which was also just 5.6%. However, the number of unemployed workers actually dropped for the month as well at the total number of employed worked increased. These improvements were offset by an increase in the overall civilian work force keeping the unemployment rate static.
When compared to 2011, Minnesota's May 2012 rate of 5.6% is 1% better than in May 2011. This rate decrease resulted in around 12,000 less people being unemployed in MN in 2012 vs. 2011. Also, there are around 25,000 more people employed in the state than just one one year ago. The 5.6% May rate is also significantly lower than the national average in May 2012 of 8.2%. Also, as the national rate rose (slightly) in May (from 8.1%), Minnesota's unemployment rate has remained the same.
Many of Minnesota's industries experienced employment gains for the month of May. These include Construction, Manufacturing, Education & Health Services, and Government. Some of the industries that saw a negative impact to their employment statistics for the month were Information, Professional & Business Services, Other Services, and Leisure & Hospitality.
When we look at the major metropolitan areas/cities in Minnesota for May, we see that several experienced an improvement in their unemployment rates for May when compared to 1 month prior. Cities with lower rates include Duluth (6.4%), Fargo (3%), and Grand Forks (3.7%). The cities of Mankato (4.4%) and Minneapolis and St. Paul (5.2%) both had (slightly) higher unemployment rates in May. Unchanged for the month were the cities of Rochester (4.4%) and St. Cloud (5.1%).
If we look around the region and compare Minnesota to other neighboring states we see that MN continues to have strong employment numbers. Wisconsin's May unemployment went up to 6.8%. Likewise, the State of Michigan also had it's unemployment rate rise to 8.5% for the month. The State of Iowa remained flat (5.1%) as did North (3.0%) and South (4.3%). However, these last few states are much less populated than the others in the area.
Check back with us when the employment statistics are published for Minnesota for June 2012. We'll' take another detailed look at the Minnesota rates, trends, cities, and business sectors. Note that the employment numbers can be adjusted at a later date.
When compared to 2011, Minnesota's May 2012 rate of 5.6% is 1% better than in May 2011. This rate decrease resulted in around 12,000 less people being unemployed in MN in 2012 vs. 2011. Also, there are around 25,000 more people employed in the state than just one one year ago. The 5.6% May rate is also significantly lower than the national average in May 2012 of 8.2%. Also, as the national rate rose (slightly) in May (from 8.1%), Minnesota's unemployment rate has remained the same.
Many of Minnesota's industries experienced employment gains for the month of May. These include Construction, Manufacturing, Education & Health Services, and Government. Some of the industries that saw a negative impact to their employment statistics for the month were Information, Professional & Business Services, Other Services, and Leisure & Hospitality.
When we look at the major metropolitan areas/cities in Minnesota for May, we see that several experienced an improvement in their unemployment rates for May when compared to 1 month prior. Cities with lower rates include Duluth (6.4%), Fargo (3%), and Grand Forks (3.7%). The cities of Mankato (4.4%) and Minneapolis and St. Paul (5.2%) both had (slightly) higher unemployment rates in May. Unchanged for the month were the cities of Rochester (4.4%) and St. Cloud (5.1%).
If we look around the region and compare Minnesota to other neighboring states we see that MN continues to have strong employment numbers. Wisconsin's May unemployment went up to 6.8%. Likewise, the State of Michigan also had it's unemployment rate rise to 8.5% for the month. The State of Iowa remained flat (5.1%) as did North (3.0%) and South (4.3%). However, these last few states are much less populated than the others in the area.
Check back with us when the employment statistics are published for Minnesota for June 2012. We'll' take another detailed look at the Minnesota rates, trends, cities, and business sectors. Note that the employment numbers can be adjusted at a later date.
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