Job Growth Slows, Mpls. Still on Top
Available jobs are increasing and unemployment is down, but the rate of economic recovery is slowing, according to national reports. The good news: Minneapolis job growth is one of the highest nationwide.
The U.S. Labor Department unemployment reports show the economy added 120,000 jobs last month, the lowest number all year. The unemployment rate fell to 8.2 percent, also the lowest number reported in 2012. The unemployment rate fell because fewer people searched for jobs, not because more people are now working.
Simplyhired.com’s Employment Outlook report shows competition remains high. There are three unemployed workers for each job opening. The job search engine reports Minneapolis is one of four metros nationwide with the largest job growth at 7.5 percent.