Minnesota's unemployment rate hits an 18-year low, with good trends for blacks, hispanics and teens
17 Oct 2018
Minnesota is enjoying it's third highest 3-month job growth rate since 1990.
There's more good economic news for Minnesota when it comes to job growth.
Department of Employment and Economic Development researchers say while the state's overall unemployment rate hit an 18-year low at three percent for the month of July, subsets within the population are doing even better.
DEED Research Director Steve Hine says they've seen an among Minnesotans with less than a high school diploma, unemployment dropped nearly seven percentage points, mostly due to teen unemployment dropping 6 percent.
Black unemployment is also down nearly 3 percent from the same time last year, while white unemployment dropped half a percent and Hispanic unemployment rose by 0.4 percent.
"So we're really seeing these tight labor market conditions spilling over into improved conditions for segments of the population that had a real struggle through the recession and for many years afterward," said Hine.
Hine says Minnesota is also enjoying it's third highest 3-month job growth rate since 1990.