The unemployment rate for the Counties and Metro areas for September have been calculated and posted on the Minnesota Department of Employment and Economic Development’s website.
I pulled the data for Minneapolis / St Paul metro area. We are making gains on the unemployment rate, but as we have discussed in earlier posts the false readings the unemployment rate can give. The rate does not account for people have given up looking for work and the underemployed. However, it is still a barometer we can keep an eye on to help gauge our local housing market.
The good news is the unemployment rate is coming down for Minneapolis St Paul metro area. For September we posted a 6% unemployment rate. This is down sharply from July’s 7.4% and August’s 6.7%. I am taking this as great news with the understanding that the real rate is likely higher because of the methodology on the unemployment rate. Even with this methodology, the lower this rate goes, the lower the real rate goes so this rate is still a good barometer.
Remember the key to our housing market is JOBS, JOBS, JOBS.
View the raw data for State, County, and Metro Areas.
- Minnesota Unemployment Rate down to 6.9% yet we lost 7,500 jobs – what are the real numbers? (craigkamman.com)
- Housing Starts up for September 2011 (craigkamman.com)