Jobs Slump is Minnesota's Worst Since '83

Mike Meyers, Star Tribune

The ranks of the unemployed in Minnesota in July increased by 16,800, leaving the state with the largest number of jobless people -- 171,500 -- since June 1983. That's nearly 40,000 more than a year earlier.

The state's unemployment rate hit 5.8 percent last month, a rate not seen since April 1986, according to figures released today by the Minnesota Department of Employment and Economic Development. The state's seasonally adjusted jobless rate was 5.3 percent the month before.

The state lost 900 jobs in July compared with the same month the year before -- a slump not equaled in more than four years.

"For the first time since this slowdown began, we have now moved into negative territory in terms of year over year job changes," said Steve Hine, the department's labor market information director.

"It's another clear indicator of the slowdown here over the last six months."

***********************

Mike Meyers • 612-673-1746

© 2008 Star Tribune. All rights reserved. Republished here with the permission of the Star Tribune. No further republication or redistribution is permitted without the express approval of the Star Tribune.