Minnesota’s unemployment rate ticked down one-tenth of one percentage point in September to 3.7 percent on a seasonally adjusted basis. This compares favorably with the U.S. rate of 4.2 percent. Minnesota’s unemployment rate has been between 3.7 and 4.0 percent for three years.
Both the labor force participation rate and the employment to population ratio continued their recent upward trends in Minnesota. The participation rate reached 70.4 percent and the share of the working age population with jobs hit 67.9 percent, both well above their respective national counterparts of 63.1 percent and 60.4 percent.
With the addition of 41,259 jobs, annual (over the year) job growth in Minnesota slowed further to 1.4 percent in September, but remained above the comparable national rate of 1.2 percent. Private sector job growth in Minnesota also dropped slightly, to 1.5 percent in September, while the U.S. private sector job growth rate dropped to 1.4 percent.
Ten of the eleven major sectors grew over the year. Education & Health Services led the pack with an annual gain of 15,500 jobs, followed by Construction up 6,200, Other Services and Trade, Transportation & Utilities both up 4,200, Government up 3,400 and Manufacturing up 3,100 jobs over the year.
Only Information, down 1,300, lost jobs over last September.
Minnesota gained 6,400 jobs on a seasonally adjusted basis in September with the private sector up by 4,700 jobs. Nationally, seasonally adjusted employment was essentially flat, with a decreased by 33,000 in September.
During the month, seven of the 11 major industry sectors gained employment in Minnesota, with Manufacturing employment completely flat and three sectors showing losses: Construction lost 400, and Information and Leisure & Hospitality both lost 1,700 jobs on a seasonally adjusted basis over the month.
Gains in Professional & Business Services were all in Administrative & Support and Waste Management Services in September, while the other components, Professional & Technical Services and Management of Companies both posted losses.
Both Educational Services, up 500 jobs, and Health Care and Social Assistance, up 1,500 jobs, showed healthy gains over the month, which was encouraging after the sector took a dive in August.
Government posted gains in federal and local employment, with employment in local government up 1,800 jobs in September. State government lost jobs over the month.