It's been a long time since Minnesota's jobless rate has been this low.
New figures show the state's seasonally adjusted unemployment rate fell to 3.7 percent in November – the lowest it's been since May of 2001. It's also a slight drop from October's rate of 3.9 percent, and continues a downward trend that's been happening for months.
“The change in the unemployment rate from 4.5 percent in July to 3.7 percent in November is particularly notable given the labor force participation rate held steady during that period, on top of adding jobs to the economy," Department of Employment and Economic Development Commissioner Katie Clark Sieben said in a news release.
The drop comes on the back of 6,600 new jobs in the state in November, 92 percent of which went to the leisure and hospitality sector, DEED says.
Minnesota has gained a net of 51,065 jobs this year, the majority of which have come in the past four months, DEED says.
Regionally, the Mankato area has seen the largest growth, with 3.6 percent more jobs now than at the start of the year. The Twin Cities, St. Cloud and Rochester areas are also up on the year.
Duluth is the only metropolitan area that's lost jobs, down 0.2 percent (a deduction of 331 jobs).