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MPR News Staff
St. Paul, Minn.

MN jobless rate drops below 4%, first time since 2006

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Updated 4:45 p.m. | Posted 10:50 a.m.

Minnesota's unemployment rate dropped below 4 percent in October for the first time in more than eight years.

State employers add added 9,500 jobs in October, dipping the seasonally adjusted unemployment rate to 3.9 percent, down from 4.1 percent in September, the Minnesota Department of Employment and Economic Development said in a statement Thursday.

State officials said data revisions for September also led to an increase of 2,800 jobs counted for September.

Minnesota has added 28,300 jobs over the past three months, the agency said.

The state's October's jobless rate was the state's lowest since June 2006 and significantly below the 5.8 percent U.S. unemployment rate in October.

Unemployment trend lines
Trend line chart with Minnesota and U.S. unemployment rates through September.
Courtsey of Federal Reserve Bank of St. Louis

Trade, transportation and utilities led all sectors with 5,200 new jobs in October, followed by education and health services, up 4,500.

Editor's note: An earlier version of this story noted state officials' claim that Minnesota added more jobs the past three months than in any other equivalent period. Officials this afternoon said that was a mistake and there have been four other three-month periods since 1990 where the state showed stronger growth.