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Minnesota's unemployment rate hits lowest level in 19 years

But there's also been a drop in the number of available jobs in the state.
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Minnesota has seen its unemployment rate drop below 3 percent for the first time since 1999.

The Minnesota Department of Economic Development reported on Thursday that the adjusted unemployment rate for August was 2.9 percent.

This is the first time since December 1999 the figure has gone below 3 percent, and is closing in on the all-time record in the first two months of 1999, when the rate was 2.5 percent.

This means that there are now fewer than 90,000 unemployed, working-age adults in the state.

Despite this, the number of available jobs in the state also fell last month. After three consecutive moths of "strong job growth" in Minnesota, employers eliminated 200 net jobs last month.

Over the past year, the state has added 50,904 jobs, a 1.7 percent increase, just below the 1.8 percent national average.

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In the sectors adding jobs, construction gained 1,700 positions, following by government (up 1,000) and leisure and hospitality (up 400).

Education and health services lost 1,000 jobs, while manufacturing was down 900, and transportation and utilities down 600.

The metro area seeing the strongest job growth is Mankato, according to DEED figures.

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