Minnesota gained 1,100 jobs in August, according to seasonally adjusted figures released last week by the Minnesota Department of Employment and Economic Development, or DEED.
The state’s seasonally adjusted unemployment rate decreased one-tenth percent to 3.3 percent in August, ending a nine-month stretch where the rate increased from 2.8 percent last October to 3.4 percent in July. The U.S. unemployment rate remained at 3.7 percent in August.
Annual gains fell to 11,812 jobs or 0.4 percent in August. Minnesota’s labor force participation rate increased slightly to 70.1 percent.
“Minnesota employers continue to add jobs, and Minnesota workers continue to participate in the labor market at high levels,” said DEED Commissioner Steve Grove. “Even with a slight drop in the unemployment rate, the lack of available workers in Minnesota continues to pose challenges for employers.”
DEED and its workforce development partners are working to address this challenge. Earlier this month, DEED, the Governor’s Workforce Development Board and the Minnesota Association of Workforce Boards publicly launched CareerForce, a collaborative partnership made up of hundreds of DEED staff, nonprofit partners and business leaders throughout Minnesota.
Employers and career seekers can get help in person, on the phone and online at CareerForceMN.com. The public rollout of CareerForce marks the beginning of a recommitment to enhanced employer service throughout Minnesota, a pledge to put equity at the center of all efforts, and a renewed focus on meeting employers and career seekers where they are and provide them with the tailored services they need.
Over the month, three major industry sectors gained jobs. Leisure and hospitality led all sectors (up 2,700), followed by financial activities (up 1,100), and construction (up 100).
Sectors experiencing job loss were manufacturing (down 700), trade, transportation and utilities (down 500), professional and business services (down 1,200), and education and health services (down 1,800).
Government employment in August was flat.
The Minneapolis-St. Paul metropolitan statistical area was alone among Minnesota MSAs in that it lost jobs on the year in August. Every other MSA added jobs, with each outpacing the state’s 0.4 percent OTY change. Mankato had the highest proportional growth at 1.6 percent.