
Rochester Area Employers Added 8700+ Jobs in 2024
Rochester, MN (KROC-AM News) - Job growth in the Rochester area remained, by far, the strongest in the state last month.
The latest data published by the Minnesota Department of Employment and Economic Development shows the Rochester Metropolitan Area, which includes portions of some neighboring counties, has seen a net gain of more than 8700 jobs over the past 12 months. That equates to an annualized job growth rate of 6.9%.
The numbers are even stronger than those reported in November, when the year over year net job gain was listed at 7700 jobs for a job growth rate of 6.1%. A year ago, the December job growth rate was reported at 4.2% with a net gain of about 5100 jobs during the previous year.
The State report shows the Twin Cities area continues to have a negative job growth rate, although the job market improved significantly from November to December. It shows the Minneapolis-St. Paul metropolitan area has seen a net loss of about 4700 jobs when compared to December 2023. In November, the year over year net job loss exceeded 13,000.
The Mankato area saw a net gain of 1900 jobs over the past year for a job growth rate of 3.3%, while St. Cloud saw a net gain of fewer than 700 jobs, and it was estimated that Duluth lost almost 400 jobs in 2024.
Statewide, the report says Minnesota gained nearly 37,500 jobs last year for a job growth rate of 1.3%.
Minnesota's seasonally adjusted unemployment rate was down two-tenths of a percentage point in December at 3.3%. State officials reported that Minnesota's economy added 4100 jobs last month and the size of the labor force grew by about 3300 workers. Nationwide, the jobless rate was pegged at 4.1%, down a 10th of a percentage point from November.
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