I just received a Dept. of Employment and Economic Development report and want to share some encouraging news:
Minnesota employers added 10,300 jobs in July, the state’s first monthly employment gains since August 2008. Our state gained jobs in eight of the state’s 11 industry sectors; leisure and hospitality led the way by adding 3,900 jobs.
Minnesota’s unemployment rate continued to widen from the national average. The state’s unemployment rate fell 0.3 percent from June to a seasonally adjusted 8.1 percent. The U.S. unemployment rate in July was 9.4 percent.
Another promising finding is just 5 percent of employers surveyed plan for reductions in their employment rolls for the rest of the year, a big improvement over previous surveys. Furthermore, job vacancies in Minnesota between April and June 2009 dropped 39.4 percent from the same period a year ago. There were 7.7 unemployed people for each vacancy statewide during the quarter.
Log on to www.PositivelyMinnesota.com to read the complete report.
We still have a long way to go until we are completely out of this recession’s woods, but let’s hope these developments are indicative of a resurgent economy. I will continue working to create jobs in our area, putting people to work and boosting local businesses. We recently received approval for funding which will help First District Association significantly expand its operation in Litchfield, bringing new jobs to the area in the process.