Minnesota’s unemployment rate ticked down one-tenth of one point to 2.8 percent in September on a seasonally adjusted basis, the lowest it’s been since May 1999.
Minnesota’s labor force participation rate fell two-tenths of a point to 70.1 percent, the third consecutive monthly decline after trending upward throughout the first half of the year. The employment-to-population ratio also fell two-tenth of a point to 68.1 percent.
U.S. unemployment fell two-tenths of a point to 3.7 percent on a seasonally adjusted basis in September.
Minnesota added 37,339 jobs in September over the year, up 1.3 percent. The private sector added 32,107 jobs, also up 1.3 percent over the year. These over-the-year growth rates are down from August.
U.S. employment rose 1.9 percent for all payroll jobs and 2.2 percent for private sector payroll jobs.
Three sectors shed jobs over the year, with Other Services down 1,209 or 1.0 percent, Information down 63 or 0.1 percent and Logging & Mining down 114 or 1.7 percent.
All other sectors added jobs over the year. The largest gains were in Trade, Transportation & Utilities, up 9,251 jobs or 1.7 percent, Manufacturing, up 5,761 jobs or 1.8 percent, Leisure & Hospitality, up 5,692 or 2.0 percent, Construction, up 5,514 jobs or 4.2 percent, and Government, up 5,232 or 1.2 percent.
Only one sector in Minnesota, Trade, Transportation & Utilities, has a faster over-the-year growth rate than the U.S.
Minnesota lost 1,400 jobs over the month in September on a seasonally adjusted basis, on top of a revised 2,500 jobs lost in August. Private sector employers shed 2,500 jobs in September following a loss of 3,700 jobs in August. This pause in hiring comes after three months of gains adding up to 31,700 jobs.
Four sectors lost jobs on a seasonally adjusted basis in September: Leisure & Hospitality, Manufacturing, Other Services and Education & Health Services. All other sectors added fewer than 1,000 jobs each with the exception of Government which added, 1,100.
U.S. employment ticked up 0.1 percent in September on a seasonally adjusted basis.