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- Finding qualified workers remains a challenge for businesses in Minnesota and surrounding states despite a cooling labor market. Professional and business services firms in the Federal Reserve’s ninth district reported a contraction in labor availability in the past year, according to survey results the Minneapolis Fed released Friday.
Aug 7, 2024 · UNEMPLOYMENT. Joblessness - at 2.9% as of June - has been notably lower in Minnesota than in across the U.S., BLS data shows. The unemployment rate peaked at 11.2% in the spring of 2020, 3.6...
Mar 7, 2024 · Despite the many changes that Minnesota’s economy experienced over the past two years, its labor market has remained remarkably stable. Minnesota ended December 2023 with a seasonally adjusted unemployment rate of 2.9%.
Calculating estimates for occupational labor market exits and occupational separations openings between 2022 and 2032 for each occupation, based on occupational separation rates developed by the BLS. More information on labor market exit and occupational transfer openings .
Sep 11, 2023 · Housing is gobbling up more of people’s wages, as are rising prices for necessities like food, health care and child care. The state also has persistent racial and gender disparities in income. Here are five charts on the state of labor in Minnesota.
Sep 7, 2022 · All across Minnesota, businesses are desperate for workers. “We’re hiring” signs seem to be posted in every storefront. Companies are flying in workers from places like Puerto Rico, paying...
2 days ago · The recent increase in labor force participation is also consistent with historical episodes of labor market cooling and workers’ perception of a riskier labor market. Our data indicate that 64 percent of laid-off prime age (ages 25-54) workers remained in the labor force in January 2023 through September 2024, up from 59 percent in 2021–2022.
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Does Minnesota have a stable labor market?
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What happened to Minnesota's job growth in 2023?
Minnesota's extremely tight labor market remains a central feature of the state's economic landscape. Employment growth slowed over the past year, down to 2.1% over the year in the first four months of 2023. At the same time, the unemployment rate, while remaining very low, landed at 2.8% in April 2023. The ratio of job openings to unemployed ...
