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The State of Minnesota's July 2012 unemployment rate was reported at 5.8%. This is a 0.2% increase over June and ties March for the highest rate in 2012. Minnesota's rate has been in the mid-to-high 5% range since November of 2011. Compared to June, there are around 6,000 more unemployed people in MN. The number of workers employed in the State dropped by around 5,500 and the civilian workforce numbers were relatively flat. MN'sMinnesota's rate is still much lower than the national average for July of 8.3%.
For Minnesota the July 2012 employment numbers are still better when compared to the 9.6% rate in July 2011. Compared to a year ago there are approximately 24,000 fewer unemployed people in MN. Also for the year there are approximately 18,600 more workers employed in the state. Additionally, during the past year the overall workforce has actually shrunk by around 5,600. When combined these statistics result in the major (0.8%) drop in the unemployment rate for Minnesota.
We can also review the July employment numbers for MN's business sectors. Areas that have negative employment numbers in July were Manufacturing, Information (slightly), and Education & Health Services. Up for July were the business sectors of Construction, Trade Transportation and Utilities, Financial Activities, and Leisure & Hospitality.
Next we'll look at the July the employment statistics for the significant metro areas in MN for July 2012. Though most of the changes were minor, the majority of the metropolitan areas that were reported on showed increases in their unemployment rates. On the rise in July was the City of Mankato - up to 5.3% from 5.0% in June. The City of St. Cloud rose from 5.7% to 5.8%. Also up in July was Duluth rising from 7.0% to 7.1% . The Twin Cities Metro Area of Minneapolis & St. Paul also had their rate rise in July from 5.8% to 5.9%. A couple of metropolitan areas experienced improvements including the City of Rochester (4.9% from 5.0%) and the Fargo Area (3.3% to 3.0%).
Our last comparison is to the other states in the area. Neighboring states with higher unemployment rates than MN include Wisconsin (7.3%), Illinois (8.9%) and Michigan (9.0%). States with lower rates are Iowa (5.3%), North Dakota (3.0%), and South Dakota (4.4%).
We'll review the August employment numbers for the State of Minnesota when they're published by the Department of Labor later this Summer. Remember that previously published statistics may be adjusted at a later date.
For Minnesota the July 2012 employment numbers are still better when compared to the 9.6% rate in July 2011. Compared to a year ago there are approximately 24,000 fewer unemployed people in MN. Also for the year there are approximately 18,600 more workers employed in the state. Additionally, during the past year the overall workforce has actually shrunk by around 5,600. When combined these statistics result in the major (0.8%) drop in the unemployment rate for Minnesota.
We can also review the July employment numbers for MN's business sectors. Areas that have negative employment numbers in July were Manufacturing, Information (slightly), and Education & Health Services. Up for July were the business sectors of Construction, Trade Transportation and Utilities, Financial Activities, and Leisure & Hospitality.
Next we'll look at the July the employment statistics for the significant metro areas in MN for July 2012. Though most of the changes were minor, the majority of the metropolitan areas that were reported on showed increases in their unemployment rates. On the rise in July was the City of Mankato - up to 5.3% from 5.0% in June. The City of St. Cloud rose from 5.7% to 5.8%. Also up in July was Duluth rising from 7.0% to 7.1% . The Twin Cities Metro Area of Minneapolis & St. Paul also had their rate rise in July from 5.8% to 5.9%. A couple of metropolitan areas experienced improvements including the City of Rochester (4.9% from 5.0%) and the Fargo Area (3.3% to 3.0%).
Our last comparison is to the other states in the area. Neighboring states with higher unemployment rates than MN include Wisconsin (7.3%), Illinois (8.9%) and Michigan (9.0%). States with lower rates are Iowa (5.3%), North Dakota (3.0%), and South Dakota (4.4%).
We'll review the August employment numbers for the State of Minnesota when they're published by the Department of Labor later this Summer. Remember that previously published statistics may be adjusted at a later date.
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If you're unemployed in MN and need information, please check out the Minnesota UnemploymentMinnesota Unemployment Headquarters.
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