State and National Employment and Unemployment

Unemployment

The unemployment rate dropped to 2.2% in Minnesota in April, on a seasonally adjusted basis, from 2.5% in March.

The number of unemployed fell by 8,104 to 67,631, and the number of employed increased by 16,481 to 3,012,488, the first time above three million since March of 2020. The labor force grew by 8,377 to 3,080,119, and the labor force participation rate increased to 68.3%.

The U.S. unemployment rate held at 3.6% in April, on a seasonally adjusted basis. The labor force participation rate decreased to 62.2%.

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Monthly Employment

Minnesota’s monthly job growth was up in April as the state added 11,900 jobs, or 0.4%, following the addition of 13,200 jobs in March, and marking the seventh consecutive month of seasonally adjusted gains.

Seven of eleven published supersectors posted increases: Manufacturing added 1,800 jobs, Financial Activities added 4,700, Professional and Business Services added 3,900, Educational and Health Services added 200, Leisure and Hospitality added 2,700, Other Services added 200, and Government added 1,300.

Three supersectors lost jobs on the month: Mining and Logging lost 200 jobs, Construction lost 1,000, and Trade, Transportation, and Utilities lost 1,700. Employment in Information was flat.

U.S. total payroll employment was up in April, adding 428,000 jobs, or 0.3%. Private sector employers added 406,000 jobs (0.3%) on a seasonally adjusted basis. Minnesota outperformed the nation in total employment growth, and five of eleven published supersectors.

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Annual Employment

Minnesota over the year (OTY) payroll employment growth stood at 61,139, or 2.2%, while the private sector added 61,008 jobs, or 2.5% in April. Both marks were down from March estimates.

U.S. total nonfarm over-the-year job growth stood at 4.6% in April, while private sector employment was at 5.0%. Both marks were unchanged from March estimates.

All but three supersectors in Minnesota added jobs on an annual basis in April. Mining and Logging was down 85 jobs (1.3%), Construction was down 4,988 (4%), and Education and Health Services was down 65 (0%).

Annual job growth in Minnesota was once again the greatest in Leisure & Hospitality, the hardest-hit supersector by COVID. It was up 12.9% or 27,585 jobs. Manufacturing employment was up 5.2% (15,862 jobs) and Other Services was up 3.5% (3,598 jobs).

Three supersectors showed strength over the year in Minnesota compared to the nation. Manufacturing was up 5.2% (versus 3.7%), Leisure and Hospitality was up 12.9% (versus 9.3%), and Other Services was up 3.5% (versus 1.5%).

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