Check it out: Minnesota landed a 2.1% unemployment rate this past October, putting us in first place in the U.S. But it gets weird because our state workforce is smaller than it was before the pandemic hit. What’s going on here?
Here’s Five Fast Facts About Minnesota’s Employment Numbers:
🔥Bottom line: It’s great that we’re on top but it seems it’s because of a small cheat. It leads to an odd situation: What does a state do when it runs out of available workers? Do they have to start recruiting elsewhere? Do they raise pay and benefits above what existing employees make? Do those efforts cause prices to increase? We’re in uncharted territory here and employers may have to make things up as they go and risk internal chaos.
What do you think about the numbers?
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