MN job losses slowed last month

First, the bad news: 1,600 Minnesotans lost their jobs in May. The good news (and we're kinda grabbing at straws here): that's the smallest monthly loss since August 2008.

From the Morris Sun Tribune:

Over the past year, the state has lost 3.4 percent of its jobs, compared with job cuts nationwide of 4 percent.

The Minnesota unemployment rate edged up slightly from 8 percent in April to a seasonally adjusted 8.2 percent in May. The U.S. rate for May was 9.4 percent.

"It is not yet clear if we have reached a turning point in our economic recovery, but there are some optimistic signs," said DEED Commissioner Dan McElroy. "We are encouraged that the unemployment rate has held steady in recent months and that the pace of job losses appears to be slowing."

Slowing, but not entirely subsiding. At this point we'll take it.