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

Minnesota Unemployment Holds at 3.2%

Labor force participation rate ticked up to 70.3% while the state added more than 7,000 new jobs

 

November 15, 2019

St. Paul – According to data released today by the Minnesota Department of Employment and Economic Development (DEED) the seasonally adjusted unemployment rate held at 3.2% in October. The national seasonally adjusted unemployment rate for October increased to 3.6%.

Minnesota added 7,400 jobs in the month of October. Meanwhile, September's employment growth was revised up to 1,600 jobs.

"There continues to be a high demand for workers in the state," said DEED Commissioner Steve Grove. "While this is good news for workers, it means we need to do more to ensure Minnesota businesses have the employees they need to thrive, and that we are helping Minnesota workers prepare for in-demand occupations."

The state's labor force participation rate rose a tenth of a percent to 70.3% and the employment-to-population ratio increased to 68%, the highest it has been since 2008.

Over the month, five industry sectors gained jobs. Leisure and hospitality gained the most (up 4,900) followed by trade, transportation and utilities (up 2,500), manufacturing (up 1,300), construction (up 800) and government (up 200).

Sectors losing jobs over the month include information and financial activities, both down 1,000 jobs.

Over the month the Minneapolis-St. Paul Metropolitan Statistical Area (MSA) was the only MSA in the state to lose jobs (down 908). Rochester added the most jobs in October (up 1,268).

Visit the DEED website to see DEED's alternative measures of unemployment.

Seasonally Adjusted Not Seasonally Adjusted (NSA)

Unemployment Rate October 2019 September 2019 October 2019 October 2018

Minnesota 3.2 3.2 2.5 2.2

U.S. 3.6 3.5 3.3 3.5

Employment October 2019 September 2019 September '18 '19 level of Change September '18 '19 % level of Change

Minnesota 2,972,000 2,964,600 12,575 0.4

U.S. 151,945,000 151,817,000 2,205,000 1.5

MN Annual Job Change MN Annual Growth Rate US Annual Growth Rate

Total nonfarm 12,575 0.4 1.5

Total Private 10,961 0.4 1.5

Logging and Mining 220 3.2 -1.2

Construction 4,276 3.2 2.7

Manufacturing 881 0.3 0.2

Trade, Transport. and Utilities 2,982 0.6 0.0

Information -3,610 -7.4 2.1

Financial Activities 2,588 1.4 1.2

Prof. and Business Services -4,602 -1.2 2.0

Ed. and Health Services -5,666 -1.0 2.8

Leisure and Hospitality 13,825 5.1 2.4

Other Services 67 0.1 1.0

Government 1,614 0.4 1.2

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

Minneapolis-St. Paul MN-WI MSA -908 0.0

Duluth-Superior MN-WI MSA 1,080 0.8

Rochester MSA 1,268 1.0

St. Cloud MSA 780 0.7

Mankato MSA 935 1.6

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

DEED also released a summary video of this month's unemployment numbers on the DEED YouTube page.

https://www.youtube.com/watch?v=cuuQ_1OZM0M&feature=youtu.be

 

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