Here’s some news to keep your holiday season on a jolly note: this month revealed the best jobs numbers in months (and maybe even years)!
In the wake of raising Minnesota’s minimum wage, there’s growing evidence that employers are hiring for more jobs at higher paying rates than they have in the past. The 321,000 jobs added last month (the average per month is around 278,000) is the highest amount of jobs created since January 2012, almost three years ago.
Even more good news: the workweek is picking up more hours, as private-sector workers saw an increase in time available to work. And, weekly payrolls saw almost a full percentage increase overall, meaning that workers actually took home more money than they have in the past.
Minnesota is certainly no exception: our most recent jobs report showed that over 9,000 jobs were added in October, and an extra 2,800 jobs that weren’t included in September’s report were discovered!
And just yesterday, the Minnesota Department of Employment and Economic Development said that Minnesota’s unemployment rate is at its lowest in over a decade. The last time our unemployment rate was this low–3.7 percent–was in May 2001.
At the very least, these numbers show that our economy is on the right track to improve the working lives of all citizens. We know there’s more to do to make the economy work for everyone, not just the rich and big corporations, but this news is certainly worth celebrating.