Rochester Job Market Sets New Records Despite Rising Jobless Rate

Rochester, MN (KROC-AM News) – The job market in the Rochester area continued to set records last month even though the unemployment rate edged higher.

The latest jobs statistics from the Minnesota Department of Employment and Economic Development shows Olmsted County hit new record highs for overall employment and the size of the labor force in November. The employment total increased modestly to an all-time high of 94,489, while the size of the labor force rose at a bit faster pace to 96,641.

That pushed the jobless rate last month in Olmsted County to 2.2%, an increase of two-tenths of a percentage point from October. A year ago, the unemployment rate in the Rochester area fell three-tenths of a percentage point from the previous month to only 1.4%, which tied the all-time record lows that were set in 1998.

Across the region, Olmsted County reported the lowest jobless rate in southeastern Minnesota last month. Every county saw higher unemployment rates when compared to October but the rates remained historically low with Freeborn, Fillmore, and Wabasha Counties tied for having the highest jobless rates in the region at 2.5%. Wabasha County experienced the largest increase, with its jobless rate climbing 7-tenths of a percentage point in November.