Unemployment numbers dropping, labor force smaller than it was pre-pandemic

Minnesota’s unemployment rate dropped two-tenths of a percentage point in October to 3.5 percent.

The DEED office said in a release the drop is due to people moving from unemployment to employment.

Minnesota gained 94,500 jobs from October of 2020 to last month.

The state’s jobless rate is back to where it was just before the COVID-19 pandemic in March 2020, but the labor force participation remains down from that time, at 84,000 fewer workers.

“It’s good to see another month of job growth in Minnesota, despite a very tight labor market,” said DEED Commissioner Steve Grove.

“At DEED, we continue to work with unemployed Minnesotans, helping them to find work that meets their families’ needs. Employers are paying higher wages, out-pacing inflation, which presents lots of great opportunities for job seekers.”

In Beltrami County, just over 600 people are unemployed, representing a 2.4 percent unemployment rate in a labor force of about 26,000.

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