State: July unemployment rate unchanged from June
Minnesota’s unemployment numbers for the month of July are out, and the Department of Employment and Economic Development (DEED) says the rate held steady from June at 1.8%.
Steve Grove, the DEED commissioner, says despite the labor market, employers “are hiring at a fast rate, and continue to offer ample opportunities for Minnesotans seeking good-paying jobs.”
According to DEED’s latest numbers, the state gained 19,100 jobs in July, an increase of 0.7% from June. Meanwhile, the agency reports the private sector gained 14,600 jobs. In comparison, the United States gained a total of 528,000 jobs in July, while the private sector gained 471,000 jobs, adding that the country has now regained all of the jobs that were lost during the pandemic recession.
The agency reports the labor force within the state dropped by one-tenth of a point to 68.4% due to declines in the number of people both employed and unemployed.
Despite the low unemployment rate, the state says employment recovery hasn’t been the same for all in the state, citing an increase in the labor force for white Minnesotans of 0.2% and 0.3% for Hispanic Mexicans, while the rate decreased by 0.8% for Black Minnesotans.
Meanwhile, the unemployment rate fell 0.1% for Black Minnesotans to 7.3%, rose 0.1% to 3.2% for Hispanics, and held steady at 2.4% for whites.
In addition, DEED reports wages are still below the inflation rate, saying the average hourly wage in July for the private sector is $34.43, an increase of 5.6% from last year and 9.8% during the past two years. The inflation index for urban consumers, according to DEED, increased 8.5% during the year in July and 14.2% during the past two years.
Minnesota Gov. Tim Walz and Lt. Gov. Peggy Flanagan issued statements regarding the latest report that can be found below.
5 EYEWITNESS NEWS also reached out to Scott Jensen, who will be facing Walz in the November election. His office has yet to respond to the inquiry and will be included below when it becomes available.
“Minnesotans across the state are seeing more job opportunities than ever before. We are growing jobs and expanding our economy at a record-breaking pace. As Minnesotans continue to see global uncertainty and rising costs, these numbers demonstrate that Minnesota’s economy has a strong foundation.”Gov. Walz
“This month delivered more good news for Minnesotans looking for work, and looking for good-paying jobs. As our state continues to set records for unemployment, we will continue working to lower costs for families.”Lt. Gov. Flanagan