State and National Employment and Unemployment

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Unemployment

Minnesota’s unemployment rate rose one-tenth of a percentage point to a seasonally adjusted 3.8 percent in May.

For the fifth consecutive month the labor force participation rate rose, up one tenth of one percentage point to 70.8 percent. The unemployment rate increased because these additional participants were more likely to be unemployed than employed in May.

The national unemployment rate rose one-tenth of a percentage point to 5.5 percent in May.


Unemployment Rates

May
2015

April
2015

May
2014

Minnesota

Seasonally Adjusted

3.8%

3.7%

4.1%

Not Seasonally Adjusted

3.6%

3.8%

3.8%

United States

Seasonally Adjusted

5.5%

5.4%

6.3%

Not Seasonally Adjusted

5.3%

5.1%

6.1%


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Annual Employment

Minnesota added 38,383 jobs in May over the year for a growth rate of 1.4 percent. Minnesota’s private sector added 40,608 for a growth rate of 1.7 percent. These rates lag national growth rates of 2.2 percent for total employment and 2.6 percent for private sector employment.

By sector, over the year job growth was strongest in Professional & Business Services, up 2.3 percent over the year, followed by Trade, Transportation & Utilities up 2.1 percent, Education & Health Services up 1.9 percent and Leisure & Hospitality up 1.7 percent.

Manufacturing grew 1.6 percent over the year in May. This is now the only major industry sector in Minnesota with a positive growth rate higher than the nation’s, which was at 1.4 percent in Manufacturing.

Both Logging & Mining and Government have negative over-the-year rates of growth of -3.0 and -0.5 percent respectively.


Non-farm Employment graph


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Monthly Employment

Minnesota lost 200 jobs in May on a seasonally adjusted basis. Private sector employers lost 500 jobs while Government gained 300 jobs.

Five sectors gained jobs with the largest increases in Trade, Transportation & Utilities, up 6,600 jobs, followed by Financial Activities, up 900.

Six sectors lost jobs over the month with the largest loss in Professional & Business Services, down 4,400, followed by Leisure & Hospitality, down 1,600. Losses in Professional & Business Services were spread across all three major components – profession & technical, management of companies and administrative & support industries.

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


Minnesota Nonfarm Employment

May - Seasonally Adjusted

Minnesota

U.S.

Number of Jobs
Gained or Lost

Percent
Change

Percent
Change

Total Nonfarm Employment

-200

0.0%

0.2%

Total Private

-500

0.0%

0.2%

Mining and Logging

-300

-4.2%

-2.1%

Construction

200

0.2%

0.3%

Manufacturing

-100

-0.3%

0.1%

Trade, Transportation, and Utilities

6,600

1.3%

0.2%

Information

200

0.4%

-0.1%

Financial Activities

900

0.5%

0.2%

Professional and Business Services

-4,400

-1.2%

0.3%

Educational and Health Services

-900

-0.2%

0.3%

Leisure & Hospitality

-1,600

-0.6%

0.4%

Other Services

-200

-0.2%

0.0%

Government

300

0.1%

0.1%



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