Minnesota’s unemployment rate ticked down to 3.1% in February on a seasonally adjusted basis. The labor force participation rate dropped slightly to 70.2% while the employment-to-population ratio held steady at 68.1%.
U.S. unemployment ticked down one-tenth to 3.5% on a seasonally adjusted basis in February.
Minnesota added 2,315 jobs over the year in February, an increase of 0.1 percent. The private sector lost 1,618 jobs over the year, down 0.1 percent.
U.S. employment grew 1.2 percent with private employment up 1.3 percent over the year in February.
Four supersectors in Minnesota gained jobs over the year in February with Government up 3,933 and Other Services up 3,990 and outpacing other sectors. Other supersectors adding jobs over the year were Construction and Leisure and Hospitality.
Seven supersectors are showing over the year job losses: Logging & Mining, Manufacturing, Trade, Transportation & Utilities, Information, Financial Activities, Professional & Business Services, and Education & Health Services. However, losses were generally smaller than gains in growing supersectors, with Education and Health Services the only supersector to lose more than three thousand jobs (down 3,219).
Minnesota lost 4,500 jobs in February on a seasonally adjusted basis. Private sector employers lost 4,900 jobs while Government added 400 jobs over the month.
U.S. payroll employment increased 0.2 percent in February on a seasonally adjusted basis.
Seven of the eleven major industry sectors gained jobs during February, three lost jobs and one held steady. Gainers were led by Other Services, up 2,000, Leisure & Hospitality, up 800 and Manufacturing, up 600 jobs. The largest losses were in Professional & Business Services, down 3,600, Trade, Transportation and Utilities, down 3,000 and Education & Health Services, down 2,100 jobs.