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

State Unemployment Rate Holds at 2.8 Percent

Seven of the eleven major sectors of the economy gained jobs in October

 

November 16, 2018



ST. PAUL – Minnesota’s seasonally adjusted unemployment rate held at 2.8 percent in October, according to data released today by the Minnesota Department of Employment and Economic Development (DEED). The number of unemployed Minnesotans now at 86,118 which is the lowest since the last recession.

In October, the Minnesota labor market gained a 3,400 jobs when seasonally adjusted and the previously announced loss of 1,400 jobs in September was revised to a 500 job gain.

Over the past year Minnesota gained 36,450 jobs or 1.2 percent and the private sector gained 1.3 percent. The national growth rate for the year is 1.7 percent total growth and 2.0 percent in the private sector.

“With an overall 2.8 percent unemployment, employers are working harder to attract and retain talent,” said DEED Commissioner Shawntera Hardy. “DEED continues to invest in programs that help connect workers to career pathways and employers.”

Seven of the eleven major sectors of the economy gained jobs in October with leisure and hospitality gaining the most adding 2,500 jobs. Other sectors showing growth were; construction (up 1,500), trade, transportation and utilities (up 800), financial activities (up 400), manufacturing (up 200), information (up 100) and education and health care (up 100).

Sectors that lost jobs include; other services (down 800), professional and business services (off 700), government (down 500) and logging and mining (down 200).

All Metropolitan Statistical Areas registered unadjusted over-the-year growth. Mankato had the highest growth with 2.9 percent. Minneapolis-St. Paul had the second highest growth at 1.7 percent, followed by St. Cloud with 1.6 percent. Duluth-Superior had 1.5 percent growth and Rochester had 0.6 percent growth.

Follow the link to see DEED’s 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 website or follow DEED on Twitter.

 

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