Minnesota's Job Loss Hits 700 in February; Unemployment Rate Remains at 3%
The state of Minnesota lost 700 jobs in February, according to a news release from the Department of Employment and Economic Development. The state’s unemployment rate remained at 3.0% for the fifth consecutive month. This comes after an increase of 9,600 jobs in January. Despite the loss, DEED Commissioner Matt Varilek noted that Minnesota’s labor market continues to be strong and stable. In the past year, employers in the state have added 40,600 jobs, a growth rate that surpasses the national average. Five of the state’s 11 supersectors gained jobs in February, while five others experienced losses. Wages in Minnesota saw a significant increase in February, growing at a rate more than double the rate of inflation.
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