SAINT PAUL, Minn. — Minnesota’s unemployment rate fell to 2.8% from February through March, while the labor force participation rate held steady at 68.0%, according to new data from the Minnesota Department of Employment and Economic Development (DEED).
The numbers show 5,700 job losses statewide, down 0.2%, from February through March on a seasonally adjusted basis. The private sector lost 6,100 jobs but government jobs grew by 400 during the month, offsetting some of the losses.
“The low unemployment rate is good news for Minnesota,” said DEED Interim Commissioner Kevin McKinnon. “While the decline in the number of jobs and the lack of change in the labor force participation rate may seem like a bit of a disconnect, the trends in the data will smooth out over time.”
DEED says five giant Minnesota sectors lost jobs on a seasonally adjusted basis:
- Construction lost 1,900 jobs, or 1.4%.
- Manufacturing lost 1,300 jobs, up 0.4%.
- Trade, transportation and utilities lost 2,300 jobs, up 0.4%.
- Professional and commercial services lost 1,200 jobs, up 0.3%.
- Other services lost 700 jobs, up 0.7%.
The data shows that three giant sectors witnessed positive growth over the course of the month:
- Education and health services gained 600 jobs, up 0.1%.
- The leisure and hospitality sector added 700 jobs, up 0.3%.
- The government created 400 jobs, down 0.1%.
Mining, recording, information and financial activities were the areas where job numbers remained flat.
In terms of worker pay, Minnesota fell slightly in March, but overall wages are seeing a significant increase. Hourly wages for all private sector workers fell 15 cents to $35.16 in March 2023, but average hourly earnings for the year jumped $1.52 — up 4.5%. Since March 2020, it has increased by 11.4%.
You can access the DEED website for Monthly job numbersAnd Employment trends And Jobs.
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