Minnesota's unemployment rate remained at 3.4% in October, with jobs up 1.1% year-over-year despite monthly losses.

Minnesota's unemployment rate stayed at 3.4% in October, with the labor force participation rate holding steady at 67.7%. Despite a 1,000 job loss in October, the state added 33,257 jobs over the year, a 1.1% increase. The average private sector hourly wage decreased to $37.76, but earnings rose 3.3% year-over-year, outpacing 2.6% inflation. Manufacturing and construction sectors saw job decreases.

November 14, 2024
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