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Minnesota unemployment drops to lowest level since 2019

State jobless rate fell to 3.1% in December

BIZ-JOBS-GET
Minnesota gained 11,500 jobs in March, the Minnesota Department of Employment and Economic Development (DEED), said Thursday, bringing the state’s unemployment rate to 2.5% from 2.7% in February. This compares with a U.S. unemployment rate of 3.6% reported for March.
Frederic J. Brown / AFP / TNS file photo
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ST. PAUL -- Minnesota’s unemployment rate fell two-tenths of a percentage point to 3.1% in December, the lowest level since 2019.

The drop comes on the strength of revised numbers for November; the state actually lost 2,000 jobs in December. The latest seasonally adjusted figures released Thursday by the Minnesota Department of Employment and Economic Development revised job gains in November upward to 8,600 jobs, a 5,000 jobs adjustment.

“Today’s jobs report is a reminder that economic progress in these times is not a straight line,” DEED Commissioner Steve Grove said in a statement, noting that job growth has been uneven coming out of the pandemic recession. “The good news remains that our economy is bursting with great job opportunities.”

The national unemployment rate fell three-tenths of a percentage point to 3.9% for December.

Minnesota lost 416,300 jobs the months of February, March and April in 2020 as the pandemic first hit the state. The state has since regained 307,400, or 74 percent, of those jobs since.

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The DEED report Thursday notes the pandemic’s economic impact has been hard to measure. Along with the job cuts and temporary layoffs, some people dropped out of the workforce altogether. The state’s labor force participation rate in December remained 67.7% from the month before, though a decrease from 69.2% in December 2020. Nationally, the rate was 61.9% for this past month.

Who added jobs

Among in Minnesota’s main industries, the following added workers in December:

  • Education and health services up 1,800 employees.
  • Other services employment rose 400 jobs.
  • Information employers added 300 jobs.
  • Construction firms added 300 jobs.
  • Governments added 200 jobs.

Who cut jobs

The following industries cut jobs in December:

  • Professional and business services lost 1,800 workers.
  • Financial activities cut 900 jobs.
  • Manufacturing was down 900 workers.
  • Trade, transportation and utilities were down 800 jobs.
  • Leisure and hospitality lost 600 jobs.

Minnesota’s mining and logging industries remained stable in December.

Related Topics: GOVERNMENT AND POLITICS
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