State loses 4,200 jobs in July
Minnesota lost 4,200 jobs in July, according to seasonally adjusted figures just released by the Minnesota Department of Employment and Economic Development (DEED). The state's unemployment rate remained unchanged in July at 4.5 percent. The U.S....
Minnesota lost 4,200 jobs in July, according to seasonally adjusted figures just released by the Minnesota Department of Employment and Economic Development (DEED). The state's unemployment rate remained unchanged in July at 4.5 percent. The U.S. unemployment rate in July was 6.2 percent.
June figures have been revised downward by 3,600 jobs. Over the past 12 months, the state has gained 68,344 jobs, a 2.5 percent growth rate, compared with a U.S. growth rate of 1.9 percent during that period.
Every year, July has a drop in the number of jobs on a seasonally unadjusted basis. According to DEED officials, recent divergences due to seasonal adjustment lessen confidence that Minnesota's seasonally adjusted estimates are accurately reflecting recent trends in job growth.
"July's employment change appears disappointing, however, this is the smallest percentage decline in jobs for a July since 1999," said DEED Commissioner Katie Clark Sieben. "Minnesota's economic indicators remain positive, and underlying employment data continue to look strong."
The sectors that added jobs in July were trade, transportation and utilities (up 1,600), manufacturing (up 700), leisure and hospitality (up 600), and other services (up 200). Logging and mining, and professional and business services held steady.
The following sectors lost jobs in July: education and health services (down 5,300), information (down 1,000), construction (down 700), financial activities (down 200) and government (down 100).
The July employment losses in education and health services were the most on record, driven by job cuts in private education.
During the past year, sectors that added jobs were government (up 21,513), professional and business services (up 11,667), manufacturing (up 9,505), education and health services (up 9,023), construction (up 8,260), trade, transportation and utilities (up 5,658), leisure and hospitality (up 4,456), and logging and mining (up 636).
Financial activities (down 1,152), other services (down 860) and information (down 362) lost jobs in the past year.
In the metropolitan statistical areas (MSA), the following regions gained jobs in the past 12 months: St. Cloud MSA (up 2.8 percent), Minneapolis-St. Paul MSA (up 2.6 percent), Mankato MSA (up 2.4 percent), Rochester MSA (up 1 percent) and Duluth-Superior MSA (up 0.9 percent).
The DEED is the state's principal economic development agency, promoting business recruitment, expansion and retention, workforce development, international trade and community development. For more details about the agency and our services, go to http://mn.gov/deed/ .