Despite one of the coldest Januaries in recent memory, Minnesota employers continued to add jobs during the month.
DEED released figures this morning that showed the state gained 600 jobs in January – the sixth consecutive month of job growth in Minnesota. Total employment in the state is now over 2.8 million for the first time in history.
The state has added 52,200 jobs in the past year, led by education and health services (up 11,400), trade, transportation and utilities (up 10,200) and construction (up 9,600). All 11 of the state’s industrial sectors have gained jobs since January 2013.
The unemployment rate was unchanged in January from the seasonally adjusted revised rate of 4.7 percent in December. That compares favorably with a U.S. unemployment rate of 6.6 percent in January.
Among other highlights of today’s report:
· Benchmarking – the annual revision of federal employment figures, based on more accurate data – showed Minnesota gained 12,700 more jobs than originally reported over the previous 21 months.
· Construction, in particular, had major adjustments upward because of benchmarking. The industry is now the state’s fastest-growing sector, expanding by 11.9 percent in the past year, compared with 3.4 percent nationally. The state has added 9,600 construction jobs since January 2013.
· Minnesota has regained 190,400 jobs since the low point of the recession and is now 31,400 jobs above the state’s pre-recessionary peak. The country as a whole, however, remains 866,000 jobs shy of its previous peak.
· The strongest job growth in January occurred in leisure and hospitality (up 3,000), manufacturing (up 2,000), and education and health care (up 1,200).
Statewide employment in manufacturing has grown to a seasonally adjusted 313,100 – its highest level in five years.
For more details, read DEED’s press release here.