Minnesota jobless rate falls to lowest level since 2007

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Figures released Thursday by the Minnesota Department of Employment and Economic Development show the state's unemployment rate fell to 4.8 percent in October, its lowest level since 2007.

The Star Tribune reports that September’s jobless rate was 5 percent. The figures for both September and October were released Thursday; the government shutdown previously delayed the jobs report for September.

MPR added that the report marked the first time the state's jobless rate has been under 5 percent since February of 2008. The U.S. unemployment rate was 7.2 percent in September and 7.3 percent in October.

“Not only does the state have one of the lowest unemployment rates in the country, but we’re also adding jobs, an indicator of a growing economy on the right track,” said DEED Commissioner Katie Clark Sieben.

Despite the October government shutdown, Minnesota added 9,900 positions last month, regaining 8,700 jobs lost in September, plus an additional 1,200. The state has added nearly 50,000 jobs over the past year, a growth rate of 1.8 percent. That compares to a U.S. growth rate of 1.7 percent.

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