Minnesota has the lowest unemployment in the nation

25 Nov Minnesota has the lowest unemployment in the nation

Minnesota has the lowest unemployment in the nation.

Minnesota has the lowest unemployment in the nation once again. It was recorded at 2.1% in October. This is both good and bad news.

 

The good news is that people looking for a job or upgrading their employment have lots of options. We see increases in salaries and hourly wages and benefits.

The bad news is that many businesses are having a difficult time finding employees. This affects hours for restaurants and the service companies can provide.

How are our neighbor states doing? Wisconsin has a 3.3% unemployment rate and Iowa is 2.9%. Illinois is 49^th with 4.6%.

 

The unemployment rates for individual cities have Mankato as the lowest in the nation at 1.3%, Rochester 4^th at 1.5%, Grand Forks 7^th at 1.6%, St. Cloud 11^th at 1.7% and Minneapolis/St. Paul at 19^th at 1.9%.

The low rates are partially due to accelerating retirements among the State’s aging population and the shrinking labor pool as the result of the pandemic.

I hope you found my blog on “Minnesota has the lowest unemployment in the nation” helpful. Look for more blogs on all aspects of Minnesota, real estate, and the world around us.

Just call, text, or email me with questions.

Jeff Anderson

The Anderson Team

www.mnrealestate.com

RE/MAX RESULTS

612-386-8600