fbpx

Latest Posts

Home

Facebook

Twitter

Search
About

Unemployment numbers show that Minnesota Unemployment fell in june as more businesses started reopening

According to the new numbers by the Minnesota  Department Employment and Economic Development (DEED), unemployment in Minnesota went down between May and June. Minnesota unemployment fell from a record high of 9.9% for May to 8.6% in June. This is largely because many businesses reopened during the period and people were able to return to work.

Unemployment Rates

June 2020

May 2020

June 2019

Minnesota
Seasonally Adjusted

8.6%

9.9%

3.2%

Not Seasonally Adjusted

8.5%

9.4%

3.2%

United States
Seasonally Adjusted

11.1%

13.3%

3.7%

Not Seasonally Adjusted

11.2%

13.0%

3.8%

Source: DEED

Most of the job gains have been concentrated in the sectors that were heavily affected by shutdowns.

The state added 84,700 jobs last month, a 3.2% increase, with some of the biggest gains in areas that initially saw the biggest hits from the pandemic such as leisure and hospitality, accommodation and food services, retail and health services. The numbers were released Thursday by the Minnesota Department of Employment and Economic Development.

Conclusion

8.6% is still quite a gloomy number compared to 3.2% from the pre-corona virus period. The decline in unemployment is however a big sign of how destructive the shutdowns were to the economy, especially to the hospitality industry. If the state government can resist making additional arbitrary rules that negatively impact businesses, this downward trend in unemployment is highly likely to persist.

Comments