5 Things Employers Should Know About the Labor Market in Minnesota

Here are 5 things employers should know about the current labor market in Minnesota:

  1. The unemployment rate in the State of Minnesota as of March 2015 was 3.7%, which was below the nationwide average of 5.5%.
  2. The unemployment rate in the Twin Cities Metropolitan Area as of March 2015 was 4.0%.
  3. It is estimated that Minnesota has 51,000 more jobs today than it did a year ago.
  4. Since 2010, the job growth in the Twin Cities has been predominantly in the suburbs. The number of jobs in Minneapolis remained essentially flat while St. Paul lost jobs during that time period.  Dakota County gained the most jobs.
  5. According to a recent report, the unemployment rate in Minnesota is currently 0.33% below its historical average.

Takeaway:  The historically low unemployment rate in Minnesota likely means that it will be harder for employers to find qualified applicants for the foreseeable future.

About Michael Miller

Michael is a Chambers-rated attorney in Briggs and Morgan's Employment, Benefits, and Labor group and is head of the firm’s Employment Law Counseling and Compliance practice group. He has 25 years experience counseling employers to prevent unwanted litigation and advises companies of ongoing changes in federal, state and local employment law. Michael advises employers in all areas of employment law including discipline and discharge, leaves of absence, wage and hour compliance, non-compete and confidentiality agreements, affirmative action plans, background checking, and drug/alcohol testing. For Michael's full bio, click here.

Posted on May 12, 2015, in Hiring, Public Interest and tagged . Bookmark the permalink. Comments Off on 5 Things Employers Should Know About the Labor Market in Minnesota.

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