State and National Employment and Unemployment

Unemployment

The unemployment rate held at 3.0% in Minnesota in February, on a seasonally adjusted basis.

The number of unemployed increased to 93,984 and the number of employed increased to 3,053,016. The labor force grew to 3,147,000, and the labor force participation rate held at 68.1%.

The U.S. unemployment rate increased to 4.1% in February, on a seasonally adjusted basis. The labor force participation rate decreased to 62.4%.

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Monthly Employment

Minnesota’s monthly job growth was mostly flat in February as the state lost 700 jobs, or 0.0%.

Five of eleven published supersectors posted negative growth. Construction lost 1,100 jobs; Trade, Transportation and Utilities lost 1,600 jobs; Information lost 100 jobs; Leisure and Hospitality lost 2,900 jobs and Government lost 400 jobs.

Five published supersectors posted increases. Manufacturing added 600 jobs, Financial Activities added 300 jobs, Professional and Business Services added 1900 jobs, Education and Health Services added 2,100 jobs and Other Services added 500 jobs.

Employment in Mining and Logging was flat.

U.S. total payroll employment was positive in January, adding 151,000 jobs, or 0.1%. Private sector employers added 140,000 jobs (0.1%) on a seasonally adjusted basis. Minnesota outperformed the nation in three supersectors.

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Annual Employment

Minnesota over the year (OTY) payroll employment growth stood at 40,570 or 1.4%, the same level as in January. The private sector added 28,640 jobs, or 1.1% in February, which was lower than January’s 1.2%.

U.S. total nonfarm over-the-year job growth stood at 1.3% in February, lower than in January. Private sector employment growth was at 1.2%, also lower than the January rate.

Six of eleven published supersectors in Minnesota added jobs over the year. Mining and Logging added 240 jobs (3.9%), Construction added 2,069 jobs (1.8%), Manufacturing added 581 jobs (0.2%), Education and Health Services added 25,335 jobs (4.4%), Other Services added 4,478 jobs (1.6%) and Government added 11,930 jobs (2.8%).

Trade, Transportation and Utilities lost 572 jobs (-0.1%); Information lost 872 jobs (-2%); Financial Activities lost 905 jobs (-0.5%); Professional and Business Services lost 429 jobs (-0.1%) and Leisure and Hospitality lost 1,285 jobs (-0.5%).

Six supersectors showed strength over the year in Minnesota compared to the nation, as did total nonfarm employment, which was up 1.4% (vs 1.3% nationally). Mining and Logging was up 3.9% (versus -0.6%), Manufacturing was up 0.2% (versus -0.7%), Professional and Business Services was down 0.1% (vs -0.4%), Education and Health Services was up 4.4% (versus 3.5%), Other Services was up 2.8% (versus 1.5%) and Government added 2.8% (versus 1.5%).

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