Unemployment Rate Unchanged 15 Jun 12

The state unemployment rate remained unchanged at a seasonally adjusted 5.6 percent in May, according to figures released Thursday by the Minnesota Department of Employment and Economic Development (DEED). The U.S. unemployment rate was 8.2 percent last month.

Minnesota employers cut 900 jobs in May, while the April job numbers were revised from 3,100 jobs lost to 900 jobs lost. Over the past year, the state has gained 22,600 jobs, a growth rate of 0.8 percent.

“Although job growth has flattened in recent months, several sectors in Minnesota are doing relatively well compared with the rest of the country,” said DEED Commissioner Mark Phillips. “Construction has been the state’s fastest-growing sector over the past year, gaining nearly 4,200 jobs and outperforming the nation by a healthy margin.”

Government led all sectors last month, adding 1,200 jobs. Other gains occurred in manufacturing (up 900), construction (up 800), education and health services (up 300), and trade, transportation and utilities (up 200). Logging and mining held steady.

The following sectors lost jobs in May: professional and business services (down 1,600), information (down 1,100), leisure and hospitality (down 700), other services (down 500) and financial activities (down 400).

Over the past year, sectors that have gained jobs are education and health services (up 12,700), professional and business services (up 12,500), manufacturing (up 5,400), construction (up 4,200), financial activities (up 2,000), other services (up 1,800), and logging and mining (up 300).

Job losses occurred year-over-year in leisure and hospitality (down 10,000), government (down 3,500), trade, transportation and utilities (down 2,700), and information (down 50).

In the state Metropolitan Statistical Areas, job gains occurred in the past 12 months in the Mankato MSA (up 0.6 percent), Minneapolis-St. Paul MSA (up 0.7 percent) and St. Cloud MSA (up 0.4 percent). Job losses occurred in the Rochester MSA (down 0.2 percent) and Duluth-Superior MSA (down 1.8 percent).