Report: St. Cloud #7 Midsize City with Lowest Unemployment
ST. CLOUD -- A new report says St. Cloud is one of the cities with the least unemployment from Coronavirus.
AdvisorSmith says St. Cloud is ranked as the #7 midsize city with the lowest unemployment in the country.
AdvisorSmith is an information resource for small business owners. They examined the changes in unemployment rates in 389 metropolitan cities and ranked them to determine the top 10 small, midsize, and large cities with the highest and lowest increases in unemployment driven by coronavirus.
The study used data from the Bureau of Labor Statistics and compared the unemployment rate in January 2020 before the pandemic to the rate in April 2020, which was the most recent data available.
In January the unemployment rate in St. Cloud was 3.9 percent and that rate in April changed to 7.1 percent, so St. Cloud only experienced a change of 3.2 percent.
Rochester, Minnesota is at #5 on the midsize cities list.
On the small cities list, Mankato is ranked #5 for the lowest unemployment in the nation. On the large cities list, Minneapolis is ranked #8 for the lowest unemployment.
In a separate report also released Thursday by WalletHub, they rank Minnesota as a whole at the #14 state most impacted by unemployment claims since the COVID-19 crisis began.
Last month the Minnesota Department of Employment and Economic Development said the state's unemployment rate was 8.1 percent, which was well below other surrounding states and the national rate.