Jobs, unemployment both fall
Posted at 10:20 AM on November 17, 2011
by Bill Catlin
Filed under: Jobs & unemployment
The state's employers cut 6,100 payroll jobs last month, according to the Minnesota Department of Employment and Economic Development.
Still, the long-suffering construction industry added 1,700 jobs. That was the fourth monthly gain in the past half-year.
Meanwhile, the unemployment rate fell half a percentage point to 6.4 percent last month. The rate fell in part because more people (5,457) quit looking for work. But more people (8,111) also reported they'd been paid for work during the month. Both have the effect of pushing down the jobless rate.
The U.S unemployment rate in October was 9 percent.
There was some mildly encouraging news regarding the state's payroll employment in September.
As more employers reported their headcounts for the month, the jobs picture improved. The original net loss of 7,400 jobs was revised to a decline of just 1,900.
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