Minnesota Unemployment Rate Held Steady in October
Last month, the unemployment rate in Minnesota held steady at 3.2 percent in October, ending two months of declines.
According to the Minnesota Department of Employment and Economic Development (DEED), the state added 7,400 jobs total in October. In addition, labor force participation increased one tenth of a percent to 70.3 percent in October, while employment-to-population ratio increased to an 11-year high of 68 percent. Meanwhile, the number of jobs reported in for September was adjusted from 100 jobs gained to 1,600.
“There continues to be a high demand for workers in the state,” said DEED commissioner Steve Grove in a press release. “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.”
Leading all industries in October job gains was leisure and hospitality, which added 4,900 positions. Other gains were made in trade, transportation, and utilities (up 2,500), manufacturing (up 1,300), construction (up 800), and government (up 200).
Contrarily, at least two industries lost jobs, with the information and financial activities sectors shedding 1,000 jobs each.
Regionally, just one metropolitan statistical area (MSA) saw overall job losses—Minneapolis-St. Paul lost 908 positions. Rochester saw the most growth, with 1,268 jobs added in October.