MN Labor Force Surpasses 3-Million Mark 17 Apr 14

Minnesota employers added 2,600 jobs in March, according to figures released today by the Minnesota Department of Employment and Economic Development (DEED).

The gains, offset partially by revised figures showing the state lost 1,100 more jobs than originally reported in February, brought job growth in Minnesota over the past year to 41,582. State jobs have grown 1.5 percent since March 2013, compared with U.S. job growth of 1.6 percent during that period.

The state’s seasonally adjusted unemployment rate remained unchanged at 4.8 percent, well below the U.S. rate of 6.7 percent.

Minnesota’s labor force surpassed the 3 million mark for the first time in state history in March, while the state labor force participation rate climbed 0.1 percent to 70.6 percent.

“Minnesota is adding jobs at a steady pace and now has added 33,000 more jobs than its previous all-time employment peak that occurred right before the recession,” said DEED Commissioner Katie Clark Sieben. “After extreme winter weather and a slow start to the year, March gains indicate renewed strength in the economy and continued growth in the months to come.”

Professional and business services led all sectors last month with 3,500 new jobs. Other sectors that gained jobs were construction (up 2,700), financial activities (up 1,200), government (up 1,000), information (up 400), manufacturing (up 200) and logging and mining (up 100).

Sectors that lost jobs last month were leisure and hospitality (down 2,700), transportation and utilities (down 2,300), education and health services (down 1,000) and other services (down 500).

Over the past year, education and health services has added 11,515 jobs. Other sectors that have gained jobs in the past year are construction (up 9,163), manufacturing (up 6,192), professional and business services (up 5,521), trade, transportation and utilities (up 5,363), other services (up 2,417), leisure and hospitality (up 1,303), information (up 415), government (up 220) and logging and mining (up 110).

Financial activities was the only sector to lose jobs in the past year, down 637 positions.

In the Metropolitan Statistical Areas, the following regions gained jobs in the past 12 months: St. Cloud MSA (up 2.2 percent), Mankato MSA (up 2.1 percent), Minneapolis-St. Paul MSA (up 1.4 percent) and Duluth-Superior MSA (up 0.2 percent). The Rochester MSA was down 0.2 percent.