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State Unemployment Rate Falls to 3.2 Percent in February

Employers trim 1,300 jobs

3/22/2018 1:55:13 PM

Monte Hanson, 651-259-7149
Monte.Hanson@state.mn.us

ST. PAUL
– Minnesota’s unemployment rate fell 0.1 percent in February to a seasonally adjusted 3.2 percent, according to figures released today by the Minnesota Department of Employment and Economic Development (DEED). The U.S. unemployment rate in February was 4.1 percent.

Minnesota employers eliminated 1,300 jobs during the month, but that was more than offset by a revision in January’s figures from 2,500 jobs gained to 4,900 jobs gained. Minnesota has gained 22,626 jobs over the past year, a growth rate of 0.8 percent. The U.S. growth rate during that period was 1.7 percent.

“Minnesota’s unemployment rate is at a level last seen in August 2000,” said DEED Commissioner Shawntera Hardy. “While that indicates a tight labor market, it translates into improving job opportunities for those who have struggled to find work in the past, and a more aggressive push for those workers from employers.”

Unofficial estimates reveal continued improvement in the unemployment situation for black Minnesotans as the 12-month moving average rate fell from an already historic low of 7.4 percent in January to 6.9 percent in February. Similarly, the unemployment rate for Hispanics fell from 4 percent to 3.3 percent over the month.

Leisure and hospitality led all sectors in February with 3,400 new jobs, followed by manufacturing (up 700), education and health services (up 500), trade, transportation and utilities (up 400), construction (up 300) and logging and mining (up 100).

The following industries lost jobs: professional and business services (down 4,600), government (down 1,100) information (down 500), financial activities (down 400) and other services (down 100).

Over the past year, education and health services led all industries with 8,451 new jobs. Other sectors adding jobs were government (up 7,360), construction (up 4,867), trade, transportation and utilities (up 3,627), leisure and hospitality (up 1,193), manufacturing (up 139) and other services (up 63).

Four industries lost jobs over the past 12 months: financial activities (down 1,365), information (down 1,319), professional and business services (down 338) and logging and mining (down 52).

In the Metropolitan Statistical Areas, all regions gained jobs in the past 12 months: Minneapolis-St. Paul MSA (up 0.8 percent), Duluth-Superior MSA (up 1.3 percent), Rochester MSA (up 0.1 percent), St. Cloud MSA (up 0.8 percent) and Mankato MSA (up 2.9 percent).

DEED has added a section to its website that examines the unemployment rate by demographics (race, age and gender) and looks at alternative measures of unemployment.

DEED is the state’s principal economic development agency, promoting business recruitment, expansion and retention, workforce development, international trade and community development. For more details about the agency and its services, visit the DEED website or follow DEED on Twitter.

Seasonally adjusted

Not seasonally adjusted

Unemployment Rate

February
2018

January
2018

February
2018

February
2017

Minnesota

3.2

3.3

3.9

4.5

U.S.

4.1

4.1

4.4

4.9

Employment

February
2018

January
2018

Feb. ‘17-
Feb. ‘18
Level Change

Feb. ‘17-
Feb. ‘18
% Change

Minnesota

2,947,300

2,948,600

22,626

0.8

U.S.

148,177,000

147,864,000

2,404,000

1.7

Over The Year Employment Growth By Industry Sector (NSA)

OTY Job Change

OTY
Growth Rate (%)

U.S. OTY
Growth Rate (%)

Total Non-Farm Employment

22,626

0.8

1.7

Logging and Mining

-52

-0.8

4.5

Construction

4,867

4.8

5.0

Manufacturing

139

0.0

1.9

Trade, Trans. and Utilities

3,627

0.7

1.2

Information

-1,319

-2.6

-0.1

Financial Activities

-1,365

-0.8

1.8

Prof. and Bus. Services

-338

-0.1

1.2

Ed. and Health Services

8,451

1.6

2.2

Leisure and Hospitality

1,193

0.5

2.9

Other Services

63

0.1

2.0

Government

7,360

1.7

0.2

Metropolitan Statistical Area

OTY
Employment Change
(#, NSA)

OTY Employment Change
(%, NSA)

Minneapolis-St. Paul MN-WI MSA

14,715

0.8

Duluth-Superior MN -WI MSA

1,690

1.3

Rochester MSA

165

0.1

St. Cloud MSA

836

0.8

Mankato MSA

1,641

2.9


-30-

Upon request, this information can be made available in alternate formats for people with disabilities by contacting the DEED Communications Office at 651-259-7161. 

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