The updated state budget forecast shows that Minnesota will have a $323 million surplus in its current two-year budget, according to Minnesota Public Radio.
The forecast helps lawmakers decide how to spend state funds. By law, an additional $5 million needs to go to the state's reserves.
Last year's the disagreement between Gov. Mark Dayton and Republican lawmakers over how to close the deficit led to the longest state shutdown in history. The budget forecast showed a $5 billion deficit at the time.
The state jobless rate is now 5.6 percent, down from 6.8 percent a year ago, the Pioneer Press reported. The number of unemployed Minnesotans for each job vacancy is now 3.2 to 1, down from 5.8 to 1, where the ratio stood a year ago.