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Minnesota Milestones 2010: Unemployment Rate

 
 
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Indicator 38: Unemployment Rate

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Goal: Minnesota will have sustainable, strong economic growth.
Rationale: The unemployment rate affects people’s financial well-being as well as overall state economic growth.
About this indicator: As the economy slumped in the 2000s, the annual unemployment rate grew from 4.0 percent in 2000 to 5.8 percent in 2008. Unemployment continued to rise throughout most of 2009.
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United States unemployment rate
YearData
Minnesota unemployment rate, Minnesota Department of Employment and Economic Development
United States unemployment rate, Minnesota Department of Employment and Economic Development
Unemployment rate, MN Unemployment rate, United States
19904.9% 5.6%
19915.1% 6.8%
19925.2% 7.5%
19935.1% 6.9%
19944% 6.1%
19953.7% 5.6%
19964% 5.4%
19973.3% 4.9%
19982.5% 4.5%
19992.8% 4.2%
20003.1% 4%
20013.8% 4.7%
20024.5% 5.8%
20034.9% 6%
20044.6% 5.6%
20054.2% 5.1%
20064.1% 4.6%
20074.6% 4.6%
20085.4% 5.8%
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For comparison: In October, 2009 the state unemployment rate stood at 7.6 percent, lower than the U.S. rate of 10.2 percent. Unemployment has declined slightly since the early part of 2009.
Things to think about: The unemployment rate is estimated and does not always follow the trend in other labor market indicators such as the number of jobs. The unemployment rate can go down if people give up looking for jobs, or conversely it can go up if improved economic prospects draw more workers into the job market.
Sources:
Local data:
County level data:
Minnesota unemployment rate

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Minnesota unemployment rate

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Milestones is a product of the Minnesota State Demographic Center, a division of the Department of Administration