State and National Employment and Unemployment

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Unemployment

Minnesota’s unemployment rate held steady at 3.7 percent for the eighth consecutive month in March on a seasonally adjusted basis.

For the third consecutive month, the labor force participation rate increased by three-tenths of a percentage point to 70.5 percent, and the labor force rose to 3,020,000.

The employment-to-population ratio, the share of the working age population with jobs, rose again to 67.9 percent. Household employment, the number of Minnesotans working as measured by the household survey, topped 2.9 million for the first time ever.

The national unemployment rate held steady at 5.5 percent in March.


Unemployment Rates

March
2015

February
2015

March
2014

Minnesota

Seasonally Adjusted

3.7%

3.7%

4.4%

Not Seasonally Adjusted

4.5%

4.4%

5.3%

United States

Seasonally Adjusted

5.5%

5.5%

6.7%

Not Seasonally Adjusted

5.6%

5.8%

6.8%


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Annual Employment

Annual job growth rose to 50,829 or 1.9 percent in March. This is below the national rate of 2.3 percent.

Minnesota’s private sector added 50,762 jobs over the year, up 2.2 percent. This is below national private sector growth of 2.6 percent.

The strongest annual job growth in March was in Leisure & Hospitality, up 3.4 percent, Education & Health Services and Other Services, both up 2.9 percent, Professional & Business Services up 2.6 percent, and Manufacturing, up 2.2 percent.

Continued weakness in Construction in March kept job growth negative, but only by 25 jobs over the year.


Non-farm Employment graph


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Monthly Employment

Minnesota gained 7,800 jobs over the month in March on a seasonally adjusted basis. Private sector employers gained 6,100 jobs while Government gained 1,700 jobs.

Six sectors gained jobs with the largest increases in Education & Health Services, up 5,800, and Trade, Transportation & Utilities, up 1,800.

Four sectors lost jobs over the month. Professional & Business Services lost the most jobs, down 3,600.

National job growth stood at 0.1 percent on a seasonally adjusted basis in March.


Minnesota Nonfarm Employment

March - Seasonally Adjusted

Minnesota

U.S.

Number of Jobs
Gained or Lost

Percent
Change

Percent
Change

Total Nonfarm Employment

7,800

0.3%

0.1%

Total Private

6,100

0.3%

0.1%

Mining and Logging

-100

-1.4%

-1.2%

Construction

-800

-0.8%

0.0%

Manufacturing

1,600

0.5%

0.0%

Trade, Transportation, and Utilities

1,800

0.3%

0.2%

Information

800

1.5%

0.1%

Financial Activities

0

0.0%

0.1%

Professional and Business Services

-3,600

-1.0%

0.2%

Educational and Health Services

5,800

1.2%

0.2%

Leisure & Hospitality

-100

0.0%

0.1%

Other Services

700

0.6%

0.0%

Government

1,700

0.4%

0.0%



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