Unemployment rate steady at 3.8 percent in May
ST. PAUL--The Minnesota unemployment rate was unchanged at a seasonally adjusted 3.8 percent in May, according to figures released today by the Minnesota Department of Employment and Economic Development.
ST. PAUL-The Minnesota unemployment rate was unchanged at a seasonally adjusted 3.8 percent in May, according to figures released today by the Minnesota Department of Employment and Economic Development.
The U.S. unemployment rate in May was 4.7 percent.
Minnesota employers eliminated 1,900 jobs during the month, after gaining a revised 14,300 jobs in April. Employers in Minnesota have added 27,987 jobs over the past year, a growth rate of 1 percent. Job growth nationally in the last 12 months was 1.7 percent.
"Despite the decline in May, the state labor market remains healthy, with seven of the state's 11 major industrial sectors growing in the past year," said DEED Commissioner Shawntera Hardy.
Education and health services led all sectors in May with 3,900 new jobs. Government (up 2,700) and information (up 200) also gained jobs.
The following sectors lost jobs: manufacturing (down 2,300), construction (down 1,900), financial activities (down 1,300), leisure and hospitality (down 1,000), trade, transportation and utilities (down 800), other services (down 600), professional and business services (down 500), and logging and mining (down 300).
Education and health services also gained the most jobs year-over-year with 18,533 new positions. Other sectors that gained jobs during that period were construction (up 4,295), professional and business services (up 2,906), government (up 1,811), trade, transportation and utilities (up 1,558), financial activities (up 1,510), and leisure and hospitality (up 986).
Sectors that lost jobs in the past year were logging and mining (down 1,585), information (down 1,303), other services (down 506) and manufacturing (down 218).
In the Metropolitan Statistical Areas, the following regions gained jobs in the past 12 months: Minneapolis-St. Paul MSA (up 1.5 percent), Rochester MSA (up 1.5 percent), St. Cloud MSA (up 1.8 percent) and Mankato MSA (up 1.2 percent). The Duluth-Superior MSA was down 1.3 percent.