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Industrial Analysis

by Nick Dobbins
nicholas.dobbins@state.mn.us

April 2015

Monthly analysis is based on seasonally adjusted employment data.
Yearly analysis is based on unadjusted employment data. *

Overview

Seasonally adjusted employment in Minnesota showed strong growth in March as the state added 7,800 jobs (0.3 percent) from February estimates, which were adjusted downward from previous estimates by 1,300. Goods producers and services providers both added jobs, with the largest numerical increases coming from Manufacturing (up 1,600 or 0.5 percent), Trade, Transportation, and Utilities (up 1,800, 0.3 percent), Educational and Health Services (up 5,800, 1.2 percent), and Government (up 1,700, 0.4 percent). These increases were tempered by a drop of 3,600 jobs (1.0 percent) in Professional and Business Services. Annually, Minnesota employers added 50,829 jobs (1.9 percent). The Information supersector got back into the black in March, adding 505 jobs (1 percent) on the year, leaving Construction, which was down just 25 jobs (0.0 percent), as the only supersector to show annual job losses.

Mining and Logging

The Mining and Logging supersector shed a seasonally adjusted 100 jobs (1.4 percent) in March. Over the year, Mining and Logging added 44 jobs (0.7 percent), settling at an unadjusted total of 6,745 jobs.

Construction

Employment in the Construction industry dipped by 800 jobs (0.8 percent) in March, giving back exactly half of the large 1,600 job gain the supersector saw in February. Over-the-year employment in the supersector was almost completely flat, as Construction lost 25 jobs (0.0 percent) coming in at 88,754 total jobs. Specialty Trade Contractors lost 524 jobs (0.9 percent) thanks to a decline of 880 (3.1 percent) in Building Equipment Contractors. Employment in Construction of Buildings was up, however, with the industry group adding 471 jobs (2.1 percent).

Manufacturing

Manufacturing employment grew in March as the supersector added 1,600 jobs (0.5 percent). Increases were split between the two component sectors, with Durable Goods Manufacturing adding 700 jobs (0.3 percent) and Non-Durable Goods adding 900 (0.8 percent). On an annual basis, Manufacturing added 6,794 jobs (2.2 percent). The supersector has been steadily growing for some time now, and has not shown over-the-year job losses since July of 2010. Most of the annual growth in March came from Durable Goods (up 5,908, 3 percent), which added jobs in each of its nine published component industries. Non-Durable Goods added just 886 jobs (0.8 percent), but that belies the more dramatic changes in its component sectors. Paper Manufacturing and Printing and Related Support Activities continued its long term slide with an over-the-year drop of 1,029 jobs (3.1 percent), while Food Manufacturing employment increased significantly, up 1,979 (4.5 percent) from March 2014 estimates.

Trade, Transportation, and Utilities

Trade, Transportation, and Utilities added 1,800 jobs (0.3 percent) in March estimates. The Wholesale and Retail Trade sectors were relatively flat, down 100 (0.1 percent) and up 200 (0.1 percent) respectively. The lion's share of the growth came in Transportation and Warehousing, which added 1,700 jobs (1.8 percent). Over the year, employment in the supersector was up by 8,499 (1.7 percent). Each of the three major component sectors had employment increases of over 1 percent, with Wholesale Trade adding 2,733 jobs (2.1 percent), Retail Trade adding 4,473 (1.6 percent), and Transportation, Warehousing, and Utilities adding 1,293 (1.4 percent).

Information

The Information supersector added 800 jobs (1.5 percent) in March, gaining back some of the 1,500 seasonally adjusted jobs it lost between December and February. For the year, the supersector added 505 jobs (1 percent). As sometimes happens in Information, the published component sectors actually contradict the change in the supersector, as Telecommunications lost 68 jobs (0.5 percent) and Publishing Industries (except Internet) lost 707 (3.4 percent). Data in a number of groups within the Information industry, including Broadcasting and Data Processing, Hosting, and Related Services are not published in detail at the state level which accounts for this apparent discrepancy.

Financial Activities

Employment in Financial Activities was flat in March, maintaining its seasonally adjusted level of 178,500 as a loss of 100 (0.1 percent) in Finance and Insurance was countered by an equivalent increase (0.3 percent) in Real Estate and Rental and Leasing. On an annual basis, Financial Activities added 426 jobs (0.2 percent). Component sector Real Estate and Rental and Leasing lost 1,022 jobs (2.7 percent), but that loss was more than covered by a gain of 1,448 (1 percent) in Finance and Insurance which largely came from Insurance Carriers and Related Activities, which added 1,514 jobs (2.4 percent).

Professional and Business Services

Employment in Professional and Business Services was down sharply in March, shedding 3,600 jobs (1.0 percent). This drop came on the heels of an increase of 5,100 jobs in the supersector between December and February. All three component industry groups lost jobs, with Professional, Scientific, and Technical Services down 900 (0.6 percent), Administrative and Support and Waste Management and Remediation Services down 1,300 (0.9 percent), and Management of Companies and Enterprises down 1,400 (1.8 percent). This supersector was host to some highly publicized layoffs in March. Over the year, however, Professional and Business Services employment remains in good shape, up 8,973 (2.6 percent) over March of 2014.

Educational and Health Services

Employment in Educational and Health Services expanded in March, adding 5,800 jobs (1.2 percent). This was the third straight month of seasonally adjusted growth for the supersector. Educational Services added 3,800 jobs (5.8 percent) while Health Care and Social Assistance added 2,000 (0.5 percent). For the year the supersector grew by 14,246 jobs (2.9 percent). Gains were shared by both component sectors, with Educational Services adding 4,680 (7 percent) and Health Care and Social Assistance adding 9,566 (2.2 percent).

Leisure and Hospitality

Employment in Leisure and Hospitality dipped slightly in March, shedding 100 jobs, which amounted to 0.0 percent of the total employment estimate for the supersector. Annually, Leisure and Hospitality added 8,037 jobs (3.4 percent) with growth in all published component industries. Accommodation and Food Services added 5,692 jobs (2.8 percent), and Arts, Entertainment, and Recreation added 2,345 (6.7 percent).

Other Services

Other Services employment grew by 700 jobs (0.6 percent) in March. Annually, the supersector added 3,263 jobs (2.9 percent) with the addition of 1,732 jobs (8.4 percent) in Repair and Maintenance, 1,361 jobs (2.2 percent) in Religious, Grantmaking, Civic, Professional, and Similar Organizations, and 170 jobs (0.6 percent) in Personal and Laundry Services.

Government

Government employers added 1,700 jobs (0.4 percent) in March, with growth in all three levels of government. Annually Government employment is flat, up just 67 jobs (0.0 percent) with declines in State Government (down 2,262, 2.1 percent) partially balanced by the addition of 1,994 jobs (0.7 percent) in Local Government.


Seasonally Adjusted Nonfarm Employment (in thousands)
Industry March
2015
February
2015
January
2015
Total Nonfarm 2,844.8 2,837.0 2,826.5
Goods-Producing 428.4 427.7 426.4
Mining and Logging 7.0 7.1 7.1
Construction 105.2 106.0 104.4
Manufacturing 316.2 314.6 314.9
Service-Providing 2,416.4 2,409.3 2,400.1
Trade, Transportation, and Utilities 520.9 519.1 514.2
Information 52.8 52.0 52.1
Financial Activities 178.5 178.5 178.7
Professional and Business Services 359.2 362.8 362.8
Educational and Health Services 509.8 504.0 503.3
Leisure and Hospitality 260.9 261.0 256.3
Other Services 113.9 113.2 113.7
Government 420.4 418.7 419.0
Source: Department of Employment and Economic Development,
Current Employment Statistics, 2015.



Bar graph-Minnesota Employment Growth, March 2014 t0 March 2015


* Over-the-year data are not seasonally adjusted because of small changes in seasonal adjustment factors from year to year. Also, there is no seasonality in over-the-year changes.

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