Minnesota’s State Unemployment Rate Grew in November
Minnesota’s unemployment rate ticked up a tenth of a percent last month, increasing from 3.2 percent in October to 3.3 percent in November, according to data from the Minnesota Department of Employment and Economic Development (DEED). The unemployment rate increased even as the state added 5,991 jobs year over year, marking a 0.2 percent increase.
Last month’s job gains were led by the leisure and hospitality industry, which added 3,800 positions. There was also job growth in the professional and business services sector (up 800), financial services (300), and trade, transportation and utilities (300).
Industries that lost jobs included construction (down 4,900) and manufacturing (2,600).
Regionally, the Minneapolis-St. Paul Metropolitan Statistical Area (MSA) was the only MSA to see a net loss in jobs, while Mankato saw the most gains, adding 1,518 jobs over the month.
Meanwhile, Minnesota’s labor force participation rate held steady at 70.3 percent, and the employment-to-population ratio held at 68 percent.
Additionally, the private sector average wage rate increased 18 cents year over year—marking a 5.2 percent year-over-year increase.
“The fall and winter months tend to be unpredictable for job growth because of the seasonal effects of weather,” said DEED commissioner Steve Grove. “Strong wage growth and one of the highest labor force participation rates in the nation both suggest that the state continues to experience a tight labor market.”