Today the Minnesota Department of Employment and Economic Development posted the latest job figures for Minnesota for the month of May. One word: Ouch.
Below is an summary of the figures, straight from the DEED website:
Minnesota’s seasonally adjusted unemployment rate for May jumped to 5.4 percent, up sixth-tenths of a point from April, at least in part as a result of substantial statewide job losses in April. This is the highest the unemployment rate has been since 1991. The number of people unemployed jumped to 158,404, its highest level since 1983. The share of the state’s working age population that is working dropped to 68.9 percent, its lowest since 1988.
The national unemployment rate rose half a point to 5.5 percent in May.