Minnesota’s unemployment rate rose to 8.2 percent in May, up from 8.0 percent in April but still below the national rate of 9.4%, according to the Minnesota Department of Employment and Economic Development. DEED’s press release this morning led with the announcement that MN employers had cut only 1,600 jobs in May, the smallest number since October. Total job losses in May were more than 10,000, but that number was offset by some job gains, including 7,100 in the leisure and hospitality industries and 900 in construction.
• New unemployment claims rose slightly last week, to a seasonally adjusted 608,000.
• Unemployment – which is reported monthly, not weekly – remains at 25-year high of 9.4%.
• Businesses eliminated 345,000 jobs in May – a figure also reported monthly.
• The total number of people receiving unemployment compensation (which is a lot lower than the total number of unemployed workers) fell slightly, for the first time in 19 weeks. The number dropped 148,000 to 6.69 million in the week ending June 6.
• But wait – the 6.69 figure includes only people on the regular, 26-week unemployment comp rolls. Another 2.36 million have run out of regular benefits and are on emergency supplemental benefits. And beyond that, millions are receiving no unemployment comp at all.
|News with attitude, mostly from MN but with occasional forays abroad.News Day summarizes, links to, and comments on reports from news media around the world, with particular attention to Minnesota news.|