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

Minnesota Unemployment Rate Steady at 2.8 Percent

Annual employment gains 1.1 percent over last November

 

December 21, 2018



ST. PAUL - Minnesota’s seasonally adjusted unemployment rate held at 2.8 percent in November, according to data released today by the Minnesota Department of Employment and Economic Development (DEED).

In November, Minnesota lost 800 jobs on a seasonally adjusted basis. October’s previously announced gain of 3,400 jobs was reduced to 2,500 after revision. Minnesota’s unemployment rate remains the lowest since May 1999 and only three tenths of a point above the all-time low of 2.5 percent in both January and February 1999.

Over the past year, Minnesota added 33,460 total jobs, a 1.1 percent growth rate. The private sector gained 31,365 jobs for a gain of 1.2 percent. Nationally, growth declined a tenth of a point in total and private employment respectively for 1.6 percent total growth and 1.9 percent private growth.

“Minnesota’s unemployment rate has remained unchanged since September,” said DEED Commissioner Shawntera Hardy “Maintaining this historically-low unemployment rate is a sign of the state’s economic stability.”

Across eleven major sectors, five gained jobs during November. Gains were led by leisure and hospitality and professional and business services, both up 1,500 jobs. Other sectors which gained jobs were trade, transportation and utilities (up 200), financial activities (up 200) and manufacturing (up 100). Construction held steady during the month of November.

Some sectors measuring losses were; education and health care (down 2,700), other services (down 1,000), government (off 400), logging and mining (down 100) and information (down 100).

Mankato Metropolitan Statistical Area (MSA) continued to take the lead over other MSAs with its unadjusted over-the-year growth in employment at 2.6 percent. Following Mankato MSA was Minneapolis MSA with 1.8 percent growth, Duluth-Superior MSA with 1.5 percent growth and St. Cloud MSA with 1.2 percent growth. Rochester MSA declined 0.5 percent since last November.

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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