Minnesota’s unemployment rate dropped to a seasonally adjusted 3.2 percent in February. The state’s jobless rate hasn’t been that low in more than 17 years—since August 2000, according to the Minnesota Department of Employment and Economic Development. Available jobs now outnumber unemployed people.
While this would appear to be great news for jobseekers, those numbers obscure some troubling signals. The state’s strongest job growth is in low-wage (under $28,030 annually) and high-wage ($62,840 or higher) jobs. Salaries at the high end are bolstered by technology-related jobs. Middle-wage, middle-class jobs are in decline.
The phenomena, nothing new to economists, is called job […]
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