Minnesota’s unemployment rate remained steady at 4.0 percent on a seasonally adjusted basis in September. This compared to 5.0 percent nationally.
Minnesota’s labor force participation rate continued its downward trend, down two-tenths of a percentage point to 69.2 percent, still high compared to the national rate of 62.9 percent, but the lowest it’s been in Minnesota since June 1979.
Minnesota’s over the year job gains stood at 40,889 in September, up 1.4 percent from one year ago. Minnesota’s private sector gained 39,139 jobs over the year, up 1.5 percent. Meanwhile, U.S. job gains remained at 1.7 percent over the year and 1.9 percent for the private sector in September.
Eight of the 11 major sectors added jobs over the year. Construction, up 4.9 percent, Professional & Business Services rose 3.0 percent, Education & Health Care, up 2.8 percent, and both Financial Activities and Leisure & Hospitality, up 1.4 percent, set the pace in annual job growth rates in September.
Manufacturing continued in negative territory in September, down 0.2 percent, or 537 jobs, over the year. However, Logging & Mining, down 950 jobs or 13.8 percent, and Information, down 977 jobs or 1.9 percent, continue to be the most beleaguered sectors in terms of over the year job losses in Minnesota.
Over the year growth rates in September were higher in Minnesota than nationwide in Construction and Manufacturing (smaller loss), and equivalent in Logging & Mining, Professional & Business Services, Education & Health Services and Government.
Minnesota gained 1,900 jobs in September on a seasonally adjusted basis. Private sector employers gained 300 jobs while Government added 1,600 jobs over the month.
By major industry sector, September saw six sectors add jobs and five lose jobs. By far the biggest gainer was Professional & Business Services with an all-time record 10,500 monthly job gain. Other gains were much smaller, including Government up 1,600, Manufacturing up 700, and Information up 300 jobs over the month.
Losses occurred in Education & Health Care down 3,800, Leisure & Hospitality down 3,700, Trade, Transportation & Utilities down 2,900, Construction down 600, and Financial Activities down 400 jobs over the month.
U.S. employment grew by 0.1 percent over the month in September.