Minneapolis/St.Paul MN, Twin Cities Unemployment Rate August 2011 – released 9/28/2011

The Metropolitan Area unemployment rates were released by the St Louis Federal Reserve this evening for August 2011.

We know the State of Minnesota held at 7.2% unemployment rate for August, but now we can see how our local real estate market is doing with the unemployment rate.

For August 1st, 2011 the unemployment for Minneapolis, St-Paul-Bloomington, MN-WI MSA  (aka The Twin Cities) took a pretty significant drop from 7.4% to 6.7%.   Unfortunately there is no information suggesting why that drop took place.  A couple of theories are: Minnesota added 5,800 jobs, a large number would be in the Twin Cities and that there was a spike in unemployment due to the State shutdown.  These were explanations given for the State unemployment figures, and I just figure they would hold true for the Twin Cities…

Headed the right direction!  Long ways to go to get back below 5%, not even to mention 2% like we saw in the late 1990’s.     This is a good reduction and we should be happy for small gains.  Let’s hope for many more reports this direction.

As regular readers, you already know that the number one thing hurting our real estate market is the lack of jobs.  That is why I am watching the unemployment rates.

click to enlarge


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5 responses to “Minneapolis/St.Paul MN, Twin Cities Unemployment Rate August 2011 – released 9/28/2011

  1. Craig, good post. Glad to see the numbers turning positively…although I never know if we should trust the government’s numbers – even the Fed – but that’s all we’ve got right now. It seems like pretty big swings in the % decline but I believe that was due to the State of MN shutdown and then restart, right? Good stuff!

  2. Thanks Craig. Nice find on that CEPR link…I’m pulling out my green eye shadow now to dig in to the economics. Love it! Thanks for pointing me to that. I found their blog. Not sure someone interested in a 3/2/2 in Plymouth will want to read the CEPR blog stuff when I post it, but I’ll use it from time to time for the Econ majors who may periodically stumble in to my site.

    • I haven’t utilized their great information yet. I have been trying to concentrate on local information. I bookmarked it and had always meant to go back through and dig around it a bit. Let me know what treasures you find in there!

  3. Thanks Craig. I will let you know!

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