State and National Employment and Unemployment

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Unemployment

Minnesota’s unemployment rate fell two-tenths of a percentage point in September to 4.1 percent on a seasonally adjusted basis, a rate last seen in September 2006.  The number of unemployed Minnesotans stood at 122,097 in September.  This is less than half the number of unemployed Minnesotans during May 2009 when the unemployment rate reached its recessionary high of 8.3 percent.  

The national unemployment rate fell in September to 5.9 percent, its lowest rate since July 2008.


Unemployment Rates

 

September
2014

August
2014

September
2013

Minnesota

Seasonally Adjusted

4.1%

4.3%

4.9%

Not Seasonally Adjusted

3.6%

3.8%

4.6%

United States

Seasonally Adjusted

5.9%

6.1%

7.2%

Not Seasonally Adjusted

5.7%

6.3%

7.0%

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Annual Employment

Annual job growth slowed slightly to 45,098 or 1.6 percent in September, compared to 2.0 percent nationally.   

The private sector added 42,751 jobs over the year, up 1.8 percent.  This is below national private sector annual job growth of 2.3 percent.

Logging & Mining and Construction had the fasted annual growth rates in September, up 7.5 percent (540 jobs) and 6.1 percent (6,996 jobs) respectively.  

Professional & Business Services and Manufacturing added the most jobs, up 11,161 and 10,376 jobs respectively.

Government job growth is back to a more typical 0.6 percent after a temporary surge in summer staffing.  Financial Activities continued to lose jobs over the year, down 1.0 percent. 

As of September, it has been exactly five years since Minnesota’s employment level hit recessionary rock bottom.  Since then Minnesota has added 212,800 jobs, enough to put us 53,800 jobs above our pre-recessionary peak.  Sector growth varies, however, with Manufacturing and Trade, Transportation & Utilities still below their pre-recessionary peaks, and Professional & Business Services and Education & Health Care well above.



Non-farm Employment graph


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Monthly Employment

Job growth remained strong in September as 7,200 jobs were added during the month on a seasonally adjusted basis.  Private sector employers added 11,400 jobs while Government employment fell by 4,100.  

Eight of the 11 major sectors gained jobs in September with Professional & Business Services, Leisure & Hospitality, Other Service, Education & Health Care and Manufacturing all up by over 1,000 jobs over the month.  Financial Activities, Mining & Logging and Government lost jobs over the month.

National job growth stood at 0.2 percent on a seasonally adjusted basis in September.


Minnesota Nonfarm Employment

 

September - Seasonally Adjusted

Minnesota

U.S.

Number of Jobs
Gained or Lost

Percent
Change

Percent
Change

Total Nonfarm Employment

7,200

0.3%

0.2%

Total Private

11,400

0.5%

0.2%

Mining and Logging

-200

-2.6%

1.0%

Construction

200

0.2%

0.3%

Manufacturing

1,100

0.3%

0.0%

Trade, Transportation, and Utilities

300

0.1%

0.1%

Information

0

0.0%

0.4%

Financial Activities

-400

-0.2%

0.2%

Professional and Business Services

4,100

1.2%

0.4%

Education and Health Services

1,100

0.2%

0.1%

Leisure and Hospitality

3,900

1.6%

0.2%

Other Services

1,300

1.1%

0.0%

Government

-4,200

-1.0%

0.1%

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