Minnesota recovers all jobs lost from the recession
Minnesota employers added 12,200 jobs in August, pushing total jobs in the state over the pre-recessionary peak that was reached in February 2008, according to figures released today by the Minnesota Department of Employment and Economic Development (DEED).
The agency said Minnesota has now recovered all the jobs that were lost in the recession, eclipsing the February 2008 mark by 5,100 jobs. The state has added 63,100 jobs in the past year, a 2.3 percent growth rate that exceeds the national rate of 1.7 percent.
The state unemployment rate dropped 0.1 percent in August to a seasonally adjusted 5.1 percent, the lowest level since April 2008. The U.S. unemployment rate in August was 7.3 percent.
“August’s employment numbers mark a major milestone in the recovery of Minnesota’s economy,” said DEED Commissioner Katie Clark Sieben. “We’ve now recovered all of the jobs lost during the recession, which is one of many positive indicators pointing to continued economic growth.”
The following industrial sectors gained jobs last month: trade, transportation and utilities (up 6,000), education and health care (up 5,500), other services (up 2,300), government (up 1,900), construction (up 1,100), leisure and hospitality (up 700), and financial activities (up 100). Logging and mining held steady.
Manufacturing lost 3,400 jobs, followed by professional and business services (down 1,100) and information (down 900).
Trade, transportation and utilities led all sectors over the past year, adding 18,300 jobs. Other over-the-year gains occurred in education and health services (up 13,100), professional and business services (up 10,200), leisure and hospitality (up 9,400), government (up 9,000), other services (up 2,800), construction (up 2,700), financial activities (up 1,900), information (up 400), and logging and mining (up 400).
The only sector to lose jobs over the past year was manufacturing (down 5,100).
In the state Metropolitan Statistical Areas, job growth occurred in the past 12 months in the Minneapolis-St. Paul MSA (up 3.2 percent), St. Cloud MSA (up 2.2 percent), Mankato MSA (up 1.5 percent) and the Rochester MSA (up 0.1 percent). The Duluth-Superior MSA fell 0.1 percent.
This post originally appeared on Department of Employment and Economic Development website.