Red Lake Nation News - Babaamaajimowinan (Telling of news in different places)

State Gains 11,200 Jobs in July

Unemployment rate drops to 18-year low

 

August 17, 2018



ST. PAUL – Minnesota employers added 11,200 jobs in July, according to seasonally adjusted figures released today by the Minnesota Department of Employment and Economic Development (DEED).

With those gains, the state has added 31,800 jobs over the past three months, which is the third-highest number of new jobs over a three-month span dating back to 1990. Over the past year, Minnesota has gained 59,931 jobs, a 2 percent growth rate. The U.S. growth rate during that period was 1.8 percent.

The state’s seasonally adjusted unemployment rate fell to 3 percent in July, the lowest level since June 2000. The Minnesota unemployment rate has been at or below 4 percent for four consecutive years. The U.S. unemployment rate in July was 3.9 percent.

“Thanks to the strong economy, businesses throughout the state continue to grow,” said DEED Commissioner Shawntera Hardy. “The state’s robust labor market is providing access to job opportunities for an increasing number of Minnesotans, including those who have been on the economic sidelines for far too long.”

Eight of the 11 major industrial sectors added jobs in July, led by education and health services (up 2,900). Other sectors gaining jobs were government (up 2,400), trade, transportation and utilities (up 2,200), manufacturing (up 1,500), professional and business services (up 1,400), construction (up 500), leisure and hospitality (up 400) and information (up 200). Financial activities held steady.

Other services (down 200) and logging and mining (down 100) lost jobs.

The following industries gained jobs over the past 12 months: leisure and hospitality (up 17,023), education and health services (up 10,836), manufacturing (up 9,441), trade, transportation and utilities (up 7,477), professional and business services (up 5,561), construction (up 5,509), government (up 5,014), information (up 174) and logging and mining (up 21). Other services (down 913) and financial activities (down 212) were the only two sectors that lost jobs in the past year.

In the Metropolitan Statistical Areas, all five regions gained jobs over the past 12 months: Minneapolis-St. Paul MSA (up 2.2 percent), Duluth-Superior MSA (up 1.4 percent), Rochester MSA (up 0.3 percent), St. Cloud MSA (up 1.9 percent) and Mankato MSA (up 6.9 percent).

DEED has added a section to its website that examines the unemployment rate by demographics (race, age and gender) and looks at alternative measures of unemployment.

DEED is the state’s principal economic development agency, promoting business recruitment, expansion and retention, workforce development, international trade and community development. For more details about the agency and its services, visit the DEED or follow DEED on Twitter.

Seasonally adjusted Not seasonally adjusted

Unemployment Rate July 2018 June 2018 July 2018 July 2017

Minnesota 3.0 3.1 2.7 3.3

U.S. 3.9 4.0 4.1 4.3

Employment July 2018 June 2018 July ‘17- July ‘18 Level Change July ‘17- July ‘18 % Change

Minnesota 2,976,800 2,965,600 59,931 2.0

U.S. 149,128,000 148,971,000 2,571,000 1.8

Over The Year Employment Growth By Industry Sector (NSA)

OTY Job Change OTY Growth Rate (%) U.S. OTY Growth Rate (%)

Total Non-Farm Employment 59,931 2.0 1.8

Logging and Mining 21 0.3 3.5

Construction 5,509 4.1 5.0

Manufacturing 9,441 2.9 2.5

Trade, Trans. and Utilities 7,477 1.4 1.5

Information 174 0.3 2.0

Financial Activities -212 -0.1 1.4

Prof. and Bus. Services 5,561 1.5 1.3

Ed. and Health Services 10,836 2.1 2.2

Leisure and Hospitality 17,023 5.9 2.5

Other Services -913 -0.8 1.9

Government 5,014 1.3 0.0

Metropolitan Statistical Area OTY Employment Change (#, NSA) OTY Employment Change (%, NSA)

Minneapolis-St. Paul MN-WI MSA 43,595 2.2

Duluth-Superior MN -WI MSA 1,964 1.4

Rochester MSA 424 0.3

St. Cloud MSA 2,068 1.9

Mankato MSA 3,808 6.9

 

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