Minnesota Unemployment Rate Grew in July
Last month, Minnesota’s unemployment rate inched up to 3.4 percent as the state lost 1,300 jobs, according to latest data from the state’s jobs agency.
The loss in jobs marks the first decline after four months of continuous job gains, according to a news release from the Minnesota Department of Employment and Economic Development (DEED).
(The agency notes that its job figures are seasonally adjusted.)
Even as the unemployment rate grew, businesses will “continue to find it challenging to hire and retain workers,” said DEED Commissioner Steve Grove. That’s because the data suggest the state’s labor force is “at or near capacity,” he said in the release.
“Even with this slight increase, Minnesota’s unemployment rate remains low and the labor force participation rate remains high,” Grove said.
The leisure and hospitality field lost a whopping 3,000 jobs in July, while the professional and business services sector lost 100. But those losses were offset by gains in construction, which netted 1,600 new jobs last month. The healthcare sector also added 1,000 jobs in July, according to DEED.
The St. Cloud metropolitan statistical area logged 1.5 percent growth in jobs, marking the biggest job growth in the state. The Rochester region came in a close second with a job growth rate of 1.4 percent.
The Twin Cities region, meanwhile, logged a paltry 0.1 percent increase in jobs.