Unemployment Steady In January
Unemployment in Minnesota remained unchanged between December and January at 4 percent, the state’s Department of Employment and Economic Development reported.
Despite the steady figure, the state lost 8,300 jobs during the month—something DEED commissioner Shawnterra Hardy called a “temporary correction” in a job market that has seen overall growth in the last year.
“Trends point to a solid growth in the state labor market,” she said in a statement.
Leisure and hospitality added 3,300 jobs in January—the most of any industry. Other services added 1,500 jobs, the information industry added 200 and logging and mining were flat. Many other sectors reported job losses. Trade, transportation and utilities led the way with 4,100 fewer jobs. That was followed by professional and business services (down 3,200), government (down 2,700), manufacturing (down 1,600) construction (down 900), education and health services (down 700) and financial activities (down 100).
The state previously reported that December 2016’s unemployment rate was 3.9 percent. But in the January report, they revised it up a tenth of a point due to new figures showing 4,200 fewer jobs added during 2016.
Minnesota’s unemployment rate remains below the national average of 4.8 percent. But job growth has consistently lagged during the last year: The state has realized 1.2 percent growth, while the country as a whole had job growth of 1.5 percent.