State and National Employment and Unemployment

Unemployment

Minnesota’s unemployment rate remained stable at 3.2 percent in October on a seasonally adjusted basis. The labor force participation rate ticked up again to 70.3 percent as did the employment-to-population ratio, at 68.0 percent.

U.S. unemployment ticked up to 3.6 percent on a seasonally adjusted basis in October as the labor force participation rate ticked up to 63.3 percent.

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Annual Employment

Minnesota added 12,575 jobs over the year in October, up 0.4 percent. The private sector gained 10,961 jobs over the year, also up 0.4 percent.

U.S. employment overall and in the private sector grew 1.5 percent over the same period.

Eight supersectors gained jobs over the year in October. Leisure & Hospitality outpaces all other supersectors in both growth rate, now at 5.1 percent, with 13,825 jobs added. Both Logging & Mining and Construction grew 3.2 percent over the year with Construction adding 4,276 jobs. Other supersectors that added jobs over the year include Trade, Transportation & Utilities, up 2,982 jobs, Financial Activities, up 2,588 jobs, Government, up 1,614 jobs, Manufacturing, up 881 jobs and Other Services, up 67 jobs.

Three supersectors lost jobs over the year: Information is down 7.4 percent, Professional & Business Services is down 1.2 percent and Education & Health Services is down 1.0 percent over the year.

Minnesota outpaced the nation in six of the eleven supersectors including Logging & Mining, Construction, Manufacturing, Trade, Transportation & Utilities, Financial Activities, and Leisure & Hospitality.

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Monthly Employment

Minnesota gained 7,400 payroll jobs over the month in October on a seasonally adjusted basis. Private sector employers added 7,200 jobs while Government gained 200.

U.S. payroll employment increased 0.1 percent in October on a seasonally adjusted basis.

In Minnesota, five supersectors gained jobs, four shed jobs and two held constant in October. The largest gains were in Leisure & Hospitality, up 4,900 jobs, Trade, Transportation & Utilities, up 2,500 jobs and Manufacturing, up 1,300 jobs.

Supersectors losing jobs over the month included Information and Financial Activities, both down by 1,000 jobs, as well as Education & Health Services and Other Services.

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