The unemployment figures for Minneapolis / St Paul MN were released from the Bureau of Labor Statistics for November 2011. The rate has nudged down to 5.1%, which is fantastic. However, we should be less concerned about the rate and more about the number of jobs. We can compare both graphs to draw our conclusions – it is the same data represented in 2 different ways – but they tend to draw 2 different conclusions. Funny how numbers can do that..
Looks like a great Recovery. However, if we look at the number of Jobs – it paints a different picture.
The explanation of this is in the way the Unemployment Rate is calculated, if you “give up” looking for work – you are no longer counted in the unemployment rate. Either way – the trend is that we are adding jobs in the Twin Cities, even though we have a long way to go yet..
View Data from MN Deed.
- Minneapolis / St Paul Unemployment Rate nudges down (craigkamman.com)
- Building Permits for Minneapolis / St Paul (craigkamman.com)
- Unemployment Rate, Payroll Jobs (economistsoutlook.blogs.realtor.org)