Almost four years since the COVID-19 pandemic which led to significant job losses and spike in unemployment rates, recent stats indicate that southeast Minnesota is showing signs of recovery. The November 2023 numbers show that Olmsted County matched its previous record from December 1998 with an unemployment rate of 1.4%. This percentage marks a decrease from October’s unemployment rate of 2.2%.

According to John Wade of the Rochester Area Economic Development, this recovery signifies a robust local economy. He mentioned, One of the things we recognize is we continue to have great growth in nearly every sector of this economy, creating some 5,000 jobs in 2023 alone. The low unemployment rate has fostered a competitive job market, leading to employers offering high wages to attract talent. The 1.4% unemployment rate is the lowest in southeast Minnesota. Other counties like Winona and Houston are following closely with a 1.5% rate.

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