State and National Employment and Unemployment

Unemployment

The unemployment rate fell to 4.4% in Minnesota in November, from 4.6% in October, on a seasonally adjusted basis.

The number of unemployed dropped by 3,557, to 133,782, and the number of employed increased 23,769 to 2,900,637. The labor force grew 20,212 to 3,034,419, and the labor force participation rate increased from 67.4% to 67.9%. It was the first increase in either of those numbers since August.

The U.S. unemployment rate fell to 6.7% in November, from 6.9% in October, on a seasonally adjusted basis.

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Annual Employment

Minnesota over the year payroll employment loss stood at 191,662, down 6.4%, while the private sector lost 159,614 jobs, down 6.2% in November. These were both slightly worse than October’s annual declines of 6.2% and 6.1%.

U.S. over-the-year job loss stood at 6.0% with the private sector down 6.1% in November.

All supersectors in Minnesota lost jobs in November over the year.

Annual job loss were still greatest in Leisure & Hospitality, down 28.4% or 76,008 jobs. Information was down 15.1% or 6,990 jobs, Mining and Logging was down 14% or 920 jobs, Government was down 7.3% or 32,048 jobs, and Education and Health Services was down 5.3% or 29,584 jobs.

Three supersectors showed strength compared to the nation: Manufacturing was down 4.2% in Minnesota compared to 4.8% nationwide. Trade, Transportation & Utilities was down 1.4% in Minnesota compared to 3.3% nationwide. Professional & Business Services was down 2% in Minnesota compared to 4.7% nationwide.

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Monthly Employment

Minnesota’s jobs picture worsened in November, as virus cases rose, businesses anticipated further restrictions and early winter weather combined to cause the first seasonally adjusted decline since April. The state lost 12,600 payroll jobs, down 0.5% from October.

Six of eleven published supersectors posted declines: Leisure and Hospitality lost 10,400 jobs, Manufacturing lost 1,900 jobs, Construction lost 1,500 jobs, Trade, Transportation, and Utilities lost 1,200 jobs, Information lost 600 jobs, and Government lost 2,300 jobs.

Financial Activities added 2,100 jobs, Professional and Business Services added 1,900 jobs, Educational and Health Services added 1,200 jobs, and Other Services added 100 jobs. Mining and Logging employment was flat.

U.S. total payroll jobs rose 0.2% over the month in November, with the private sector up 0.3% on a seasonally adjusted basis.

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