The Minnesota unemployment rate fell 0.5 percentage points to a seasonally adjusted rate of 6.4 percent in October, with construction staffing and other industries hit hard by the recession showing signs of improvement.
The Duluth News Tribune reports the state's Department of Employment and Economic Development (DEED) found construction jobs in Minnesota increased year-over-year last month for the first time since April 2006.
"Minnesota's unemployment rate is at its lowest level since the U.S. financial crisis in November 2008," DEED Commissioner Mark Phillips said in a release. "We're pleased to see continued improvement in some of the sectors that were hit the hardest by the recession, particularly construction."
The increase in construction employment comes from a number of new projects that have been undertaken recently, many of which have been made possible through the state's Historic Rehabilitation Tax Code, Finance & Commerce reported.
Citing a report from the Minnesota Historical Society and the University of Minnesota Extension, the publication said 14 projects have preliminary approval to utilize the tax credit as of June 30, paving the way for more than 1,800 new construction jobs.