Minnesota’s unemployment rate ticked down to 3.2 percent in September on a seasonally adjusted basis. The labor force participation rate ticked up to 70.2 percent and the employment-to-population ratio ticked up to 67.9 percent.
U.S. unemployment dropped to 3.5 percent on a seasonally adjusted basis in September.
Minnesota added 4,989 jobs over the year in September, up 0.2 percent. The private sector gained 4,427 jobs over the year, also up 0.2 percent. Both are down from 0.4 percent annual growth in August 2019.
U.S. employment grew 1.5 percent overall and for private sector payroll jobs over the same period.
Construction continues to outpace other sectors in over the year growth rate, up 4.1 percent, while Leisure & Hospitality takes the lead in number of jobs added, up 9,439 or 3.3 percent. Financial Activities is in third place for annual growth, up 1.9 percent. In total, seven sectors posted annual job growth in September.
Four sectors lost employment over the year including Information, down 4.8 percent, Professional & Business Services, down 1.3 percent and Education & Health Services down by its largest margin on record at 1.1 percent over the year.
Minnesota outpaced the nation in five of the eleven major sectors including Construction, Leisure & Hospitality, Financial Activities, Logging & Mining and Trade, Transportation & Utilities.
Minnesota gained 100 payroll jobs over the month in September on a seasonally adjusted basis. Private sector employers added 500 jobs while Government lost 400 in September.
U.S. payroll employment increased 0.1 percent in September on a seasonally adjusted basis.
In Minnesota, four sectors gained jobs, six shed jobs and one held constant in September. The largest gains were in Trade, Transportation & Utilities, up 2,700 jobs and Financial Activities, up 1,300 jobs. Manufacturing and Leisure & Hospitality added 700 jobs each during the month.
Sectors losing jobs over the month included Education & Health Services, down 2,400 jobs, Professional & Business Services, down 900 jobs and Information, down 800 jobs over the month.