MN Unemployment Highest Since1983

The Minneapolis Star Tribune is reporting that unemployment increased by 16,800 in July to a total of 171,500 jobless, a 40,000 increase from a year ago. This is the highest level of joblessness in the state since 1983. The paper also reports that the state unemployment rate hit 5.8%--a rate not seen since April 1986.

Over the last week or so, there have been indications of a global economic slowdown, with economic contractions now felt in both Japan and the European Union.

Recall, the US has experienced a (revised and final) GDP contraction in the Q4 2007.

You can find more about Minnesota unemployment and insurance from MN unemployment at www.uimn.org.

Reported by http://schadenfreudenow.blogspot.com/