Minnesota's August jobless rate drops to 4.3 percent - Bring Me The News

Minnesota's August jobless rate drops to 4.3 percent

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The Minnesota Department of Employment and Economic Development announced Thusday morning that the state unemployment rate fell to 4.3 percent in August. That's the lowest unemployment rate in the state in nearly eight years.

The U.S. unemployment rate in August was 6.1 percent.

DEED noted that Minnesota employers added 6,100 jobs in August. Over the past 12 months, the state has added 56,311 jobs, a 2 percent growth rate compared with a U.S. growth rate of 1.8 percent.

Construction and professional and business services were the strongest sectors in August, each adding 2,500 jobs.

Last month, the state's unemployment rate held steady at a seasonably adjusted 4.5 percent. The employment rate is considered a significant indicator of the state's economic health.

The Associated Press had a breakdown on the national jobless figures from the U.S. Labor Department. It said that weekly applications for unemployment aid fell 36,000 to a seasonally adjusted 280,000. The four-week average of applications, a less volatile measure, dropped 4,750 to 299,500. The average is 7.1 percent lower than it was a year ago.

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