Minnesota’s unemployment rate is holding steady. DEED Deputy Commissioner Hamse Warfa:
“We are quite fairly doing better than many other states so our unemployment rate for July was 3.9 and that’s nearly where it was before the pandemic started.”
But the unemployment rate is only part of the story. Minnesota’s labor force participation rate was 67.8% in July, significantly higher than the national rate of 61.7%, but down from Minnesota’s rate of 70.2% right before the pandemic. That drop translates to 87,050 Minnesotans no longer working or looking for work.