State Gains 2,500 Jobs/Unemployment Rate Steady 08 Mar 18

ST. PAUL – Minnesota employers added 2,500 jobs in January, according to seasonally adjusted figures released today (Thursday) by the Minnesota Department of Employment and Economic Development (DEED). 
Newly revised figures indicate the state gained 20,116 jobs over the past 12 months, a 0.7 percent growth rate. U.S. jobs were up 1.5 percent during that period.

The state’s seasonally adjusted unemployment rate in January held steady at the revised 3.3 percent posted in December. The U.S. employment rate was 4.1 percent in January. 
“Minnesota launched the year on a positive note with 2,500 new jobs,” said DEED Commissioner Shawntera Hardy. “While job growth over the past year was slower than earlier data suggested, the economy is still growing and businesses are hiring.”
Government led all sectors in January with 2,700 new jobs. Other sectors adding jobs were leisure and hospitality (up 1,200), professional and business services (up 500), other services (up 500), trade, transportation and utilities (up 400), manufacturing (up 300) and construction (up 100). Logging and mining held steady.

The following sectors lost jobs: education and health services (down 1,700), financial activities (down 1,400) and information (down 100).

Over the past year, education and health services gained 8,236 jobs, followed by government (up 7,581), construction (up 3,731), trade, transportation and utilities (up 2,854), professional and business services (up 1,749) and logging and mining (up 33).

Five sectors lost jobs over the past 12 months: financial activities (down 1,518), leisure and hospitality (down 1,322), information (down 662), other services (down 504) and manufacturing (down 62). 
In the Metropolitan Statistical Areas, all regions gained jobs in the past 12 months: Minneapolis-St. Paul MSA (up 0.7 percent), Duluth-Superior MSA (up 1.3 percent), Rochester MSA (up 0.3 percent), St. Cloud MSA (up 0.2 percent) and Mankato MSA (up 2.9 percent).

DEED also announced revised job figures for last year based on updated data from the federal Bureau of Labor Statistics. Those figures (not seasonally adjusted) indicate Minnesota gained 30,606 jobs from December 2016 to December 2017, rather than the 44,200 jobs that were originally estimated. The job growth rate during that period was revised downward from 1.5 percent to 1.1 percent.

Those adjustments and other factors resulted in a revised unemployment rate of 3.3 percent in December 2017, rather than the 3.1 percent rate that was originally reported.