Minnesota’s Economy is Rising…Sort of

Posted on April 15th, 2013 by

By E.W.,  4/15/13

While it is still far too early to say that Minnesota’s economy has made a full come back, recent numbers show that the job market is not nearly as bleak as it once was. According to the Star Tribune, nearly 12,100 new jobs were created in nearly every sector in the month of January. In fact, the newspaper reported that since the Great Recession, nearly 90 percent of jobs lost have been recovered.

However, white this news great for those about to graduate this spring, don’t think the road ahead is going be easy. While over 12,000 jobs were added, the jobless rate actually went up to 5.6 percent from 5.4 percent the previous month. Steve Hine, director of Minnesota’s Labor and Market Information Office explains that until the economy has made a complete recovery, we will continue to see this sort of pattern. Nevertheless, a 5.6 percent unemployment rate is significantly less than the 7.9 percent unemployment rate the rest of the nation is averaging. It is also important to remember that this data does not take into account any of the cuts that were set to take place on March 1st.

So what’s the take way? The economy is still healing itself after a falling into a deep recession. Jobs, while easier to come by for some, are still going to have to sought and fought after. Make sure that as you begin your search you are prepared and able to stand out as a candidate.

 

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