While Minnesota’s unemployment statistics took a turn for the worse in the most recent Bureau of Labor Statistics data, the numbers aren’t all bad. Minnesota was also the fastest growing state for technology jobs in the country.
The bad first: Minnesota’s unemployment rate hit 3.9 percent in June, the highest figure since June 2014. Numbers are still preliminary, though, and it’s not a huge hit from the previous month’s rate of 3.8 percent. But the mark does come after the unemployment rate had been hovering 3.7 percent from Aug. 2014 to February 2015.
Data also showed that the labor force ticked down by almost 8,000 and employment figures dropped by a little more than 9,000.
Employment declines are nowhere to be found in Minnesota’s tech industry, though. The workforce increased by 8.36 percent, the nation’s largest such increase during the last six months, to now comprise more than 37,000 workers. Utah (5.75 percent) and Nebraska (5.22 percent) rounded out the top three, according to a recently released Dice report that analyzed Bureau of Labor Statistics data.
Minnesota’s smaller total workforce means gains in employment have a greater effect on the rate than states with more robust industries. The larger and more stereotypically tech-centric states of California and New York finished first and second in amount of jobs added.
Minneapolis-St. Paul and other cities feature a combination of startups, service providers and major corporations that need tech talent, according to the report. The Dice report also mentioned that the consistent growth for the past three quarters suggests that the local industry is also sustainable.
