State and National Employment and Unemployment

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Unemployment

Minnesota’s unemployment rate held steady at 3.7 percent in February on a seasonally adjusted basis.

The labor force participation rate increased by three-tenths of a percentage point to 70.2 percent, which drove Minnesota’s labor force over 3 million for the first time on record (based on revised data).

The employment-to-population ratio, the share of the working age population that have jobs, rose to 67.6 percent, its highest since December 2008 when the great recession was really taking hold.

The national unemployment rate fell two-tenths of a percentage point to 5.5 percent in February.


Unemployment Rates

February
2015

January
2015

February
2014

Minnesota

Seasonally Adjusted

3.7%

3.7%

4.4%

Not Seasonally Adjusted

4.4%

4.6%

5.3%

United States

Seasonally Adjusted

5.5%

5.7%

6.7%

Not Seasonally Adjusted

5.8%

6.1%

7.0%


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Annual Employment

Annual job growth rose to 45,414 or 1.7 percent in February. This is below the national rate of 2.4 percent in February.

Minnesota’s private sector added 45,371 jobs over the year, up 2.0 percent, below national private sector growth of 2.8 percent.

The strongest annual job growth in February was in Professional & Business Services up 3.9 percent, followed by Leisure & Hospitality and Other Services, each up 2.6 percent. Education & Health Services and Manufacturing were up 1.9 percent and 1.7 percent respectively over the year.

Continued weakness in Construction in February kept job growth negative, down 0.1 percent over the year. Information also lost jobs over the year, down 0.6 percent.


Non-farm Employment graph


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Monthly Employment

Minnesota gained 11,800 jobs over the month in February on a seasonally adjusted basis. Private sector employers gained 11,400 jobs while Government gained 400 jobs.

Six sectors gained jobs with the largest increase in Trade, Transportation & Utilities, up by 5,600 jobs, followed by Leisure & Hospitality, up 4,200 jobs.

Four sectors lost jobs over the month. Manufacturing lost the most jobs, down 600.

National job growth stood at 0.2 percent on a seasonally adjusted basis in February.


Minnesota Nonfarm Employment

February - Seasonally Adjusted

Minnesota

U.S.

Number of Jobs
Gained or Lost

Percent
Change

Percent
Change

Total Nonfarm Employment

11,800

0.4%

0.2%

Total Private

11,400

0.5%

0.2%

Mining and Logging

0

0%

-0.9%

Construction

1,600

1.5%

0.5%

Manufacturing

-600

-0.2%

0.1%

Trade, Transportation, and Utilities

5,600

1.1%

0.2%

Information

-100

-0.2%

0.3%

Financial Activities

-300

-0.2%

0.1%

Professional and Business Services

200

0.1%

0.3%

Educational and Health Services

1,100

0.2%

0.2%

Leisure & Hospitality

4,200

1.6%

0.4%

Other Services

-300

-0.3%

0.2%

Government

400

0.1%

0.0%



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