State and National Employment and Unemployment

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Unemployment

The unemployment rate fell one-tenth of one percentage point in June to 4.5 percent.  The decline was driven by a drop in the labor force as the participation rate declined two-tenths to 70.3 percent.

The national unemployment rate dropped two-tenths of a percentage point to 6.1 percent in June.  


  
Unemployment Rates

 

June
2014

May
2014

June
2013

Minnesota

Seasonally Adjusted

4.5%

4.6%

5.1%

Not Seasonally Adjusted

4.6%

4.2%

5.2%

United States

Seasonally Adjusted

6.1%

6.3%

7.6%

Not Seasonally Adjusted

6.3%

6.1%

7.8%


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Annual Employment

Minnesota gained 53,780 jobs over the year in June, up 1.9 percent from one year ago. This matches the U.S. annual growth rate in June.

Annual jobs growth occurred in nine out of the 11 major industry sectors in June. Professional & Business Services, up 12,450, and Education & Health Services, up 11,150, added the most jobs over the year followed by Manufacturing, up 8,420, and Construction, up 8,360. 

Financial Activities, down 1,890, and Other Services, down 1,850, were the only two sectors that lost jobs over the year.

Overall, private firms in Minnesota added 45,880 jobs over the year, a growth rate of 1.9 percent.  Nationally, private firms grew 2.2 percent over the year.


Non-farm Employment graph

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Monthly Employment

Minnesota added 8,500 jobs over the month in June (seasonally adjusted), however improvement was mixed across the major industrial sectors.   

Gains were concentrated in three sectors, with Government adding 3,900 jobs, Education & Health Services increasing by 3,500, and Trade, Transportation & Utilities adding 2,200.  Smaller increases occurred in Financial Activities, up 600, Information, up 500, Professional & Business Services, up 300, and Logging & Mining, up 200 jobs.

Losses occurred in Other Services, down 1,400, Manufacturing, down 900, Leisure & Hospitality, down 300 and Construction, down 100 jobs.

Private business gained 4,600 jobs in June, up 0.2 percent.

Minnesota Nonfarm Employment

 

June - Seasonally Adjusted

Minnesota

U.S.

Number of Jobs
Gained or Lost

Percent
Change

Percent
Change

Total Nonfarm Employment

8,500

0.3%

0.2%

Total Private

4,600

0.2%

0.2%

Mining and Logging

200

2.8%

0.4%

Construction

-100

-0.1%

0.1%

Manufacturing

-900

-0.3%

0.1%

Trade, Transportation, and Utilities

2,200

0.4%

0.4%

Information

500

0.9%

0.3%

Financial Activities

600

0.3%

0.2%

Professional and Business Services

300

0.1%

0.3%

Education and Health Services

3,500

0.7%

0.2%

Leisure and Hospitality

-300

-0.1%

0.3%

Other Services

-1,400

-1.2%

-0.1%

Government

3,900

0.9%

0.1%


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