The bill amends Minnesota Statutes 2024, section 116L.05, subdivision 5, to include county labor force participation rates as an economic indicator that the board must examine when utilizing workforce development funds. This addition aims to enhance the board's analysis of relevant economic indicators, which already includes factors such as projected layoffs, industry trends, unemployment benefit applications, and job vacancy data.

The bill outlines specific conditions that must be met before the board can allocate workforce development funds for various purposes, including incumbent worker training services. These conditions require the board to assess economic indicators, account for previous allocations, estimate future funding needs, ensure unspent funds are available for dislocated workers, and report its findings to relevant legislative committees and public officials. The inclusion of county labor force participation rates is intended to provide a more comprehensive understanding of the labor market and improve decision-making regarding workforce development initiatives.

Statutes affected:
Introduction: 116L.05