Unemployment holds at 3.3 percent

ST. PAUL – Minnesota gained 100 jobs in May according to figures released today by the Minnesota Department of Employment and Economic Development (DEED). The state’s seasonally adjusted unemployment rate remained steady at 3.3 percent in May and the U.S. unemployment rate was 3.6 percent.

April’s job gain was revised downward from 3,600 jobs to 200, and annual gains fell to 4,164 jobs or 0.1 percent.

Over the year, construction lead all other sectors adding 7,443 jobs.

“Steady unemployment suggests that the Minnesota workforce is operating near its capacity,” said DEED Commissioner Steve Grove. “The tight labor market continues to represent a major challenge to Minnesota’s job growth.”

Five major industry sectors gained jobs over the month in May. Professional and business services lead all sectors (up 1,800), followed by education and healthcare (up 700), construction (up 700), trade, transportation and utilities (up 600) and information (up 100). Manufacturing had the largest loss (down 1,200) followed by leisure and hospitality (down 1,000), other services (down 800), financial activities (down 500) and government (down 300). Mining and logging held steady over the month.

Three of the five major Metropolitan Statistical Areas (MSAs) experienced over-the-year growth in May. St. Cloud MSA had the largest growth (up 1.6 percent) followed by Rochester (up 1.1 percent) and Mankato (up 0.3 percent). Minneapolis-St. Paul MSA was down 0.2 percent and Duluth Superior MSA dropped 0.6 percent.

Visit the DEED website 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.

Seasonally Adjusted Not Seasonally Adjusted

Unemployment Rate May 2019 April 2019 May 2019 May 2018

Minnesota

3.3 3.3 2.9 2.4

U.S.

3.6 3.6 3.4 3.6

Employment May 2019 April 2019 May ’18 ’19 level of Change May ’18 ’19 % level of Change

Minnesota

2,958,500 2,958,400 4,164 0.1

U.S.

151,095,000 151,020,000 2,284,000 1.5

MN OTY Job Change MN OTY Growth Rate US OTY Growth Rate

Total nonfarm 4,164 0.1 1.5

Total Private 4,201 0.2 1.7

Logging and Mining 243 3.7 2.6

Construction 7,443 6.0 3.5

Manufacturing -806 -0.3 1.3

Trade, Transport. and Utilities -4,388 -0.8 0.0

Information -1,551 -3.2 0.6

Financial Activities 828 0.5 1.0

Prof. and Business Services 1,083 0.3 2.3

Ed. and Health Services -2,963 -0.5 2.5

Leisure and Hospitality 3,936 1.4 2.5

Other Services 376 0.3 1.2

Government -37 -0.0 0.8

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

Minneapolis-St. Paul MN-WI MSA -4,442 -0.2

Duluth-Superior MN-WI MSA -765 -0.6

Rochester MSA 1,389 1.1

St. Cloud MSA 1,715 1.6

Mankato MSA 157 0.3

The state also made a short video to coincide with the release of the unemployment numbers that can be viewed on DEED's YouTube Page.