Minnesota Unemployment Rate Continues to Drop

ST. PAUL  (AP) – Minnesota’s unemployment rate continued to move downward in December to a rate of 5.7 percent. State officials say it’s now lower than at any time since the September 2008 financial collapse.

The state Department of Employment and Economic Development released its monthly jobs report on Thursday. The December unemployment rate declined two-tenths of a percent from a 5.9 percent rate in November.

The state’s unemployment rate declined a total of 1.5 percent since August. That’s the biggest decrease over a four-month period dating back to 1976.

Minnesota gained 7,900 jobs in December and 25,300 jobs for all of 2012. Department official Steve Hine says economic indicators are positive, but that a full economic recovery is still a ways off with numerous potential hazards that could throw it off track.

(Copyright 2012 by The Associated Press.  All Rights Reserved)