Industrial Analysis
by Nick Dobbins
December 2024
Monthly analysis is based on seasonally adjusted employment data.
Yearly analysis is based on unadjusted employment data.
Overview
Employment was up in Minnesota in November on a seasonally adjusted basis, adding 2,500 jobs (0.1%). Goods producers added 1,600 jobs (0.3%), and service providers added 900 jobs (0.0%). It was the fifth consecutive month of seasonally adjusted growth in the state.
Over the year Minnesota employers added 33,458 jobs or 1.1%, down slightly from October’s 1.2% annual growth. Service providers added 37,518 jobs (1.5%), while goods producers lost 4,060 jobs (0.9%). Private sector employers added 16,169 jobs (0.6%), and public sector employers added 17,289 jobs (3.9%).
Mining and Logging
Employment in Mining and Logging was flat over the month in November, holding at a seasonally adjusted 6,500 jobs. Employment in the supersector has held at this level for four consecutive months dating back to August.
Mining and Logging employers lost 126 jobs (1.9%) over the year in November. This was slightly worse than October’s 1.8% loss and the third-largest decline of any supersector in the state.
Construction
Construction employment was up by 2,800 (2.1%) in November. This was the largest proportional monthly growth of any supersector in the state. The growth comes on the heels of four consecutive months of seasonally adjusted job losses in Construction, totaling a loss of 3,300 jobs.
Over the year Construction employers added 1,669 jobs or 1.2%. It was the first month of positive annual growth in the supersector since April. Building Construction was up 706 (2.3%), Heavy and Civil Engineering was up 149 (0.8%), and Specialty Trade Contractors added 814 jobs (1%) despite losses in both published component sectors.
Manufacturing
Employment in Manufacturing was down by 1,200 (0.4%) in November, following gains of 1,700 jobs and 200 jobs, respectively, in October and September. Durable goods manufacturers lost 200 jobs (0.1%), and non-durable goods manufacturers lost 1,000 jobs (0.9%).
Over the year Manufacturing employers lost 5,603 jobs or 1.7%, while at the national level Manufacturing employment was down 0.5%. Durable Goods Manufacturers drove the declines, shedding 5,532 jobs (2.6%). Machinery Manufacturing was off by 1,052 (2.9%). Their counterparts in Non-Durable Goods lost 71 jobs (0.1%).
Trade, Transportation, and Utilities
Trade, Transportation, and Utilities employers lost 800 jobs (0.1%) over the month of November. It was the first month of seasonally adjusted job losses in the supersector since July. Wholesale Trade employment was off by 1,200 (0.9%), and Retail Trade lost 200 jobs (0.1%), while Transportation Warehousing, and Utilities employers added 600 jobs (0.5%).
Over the year the supersector lost 1,527 jobs or 0.3%. It was the first negative annual growth since June. Wholesale Trade employment was down 2,833 (2.1%), Retail Trade was down 1,151 (0.4%), and Transportation, Warehousing, and Utilities was up by 2,457 (2.2%).
Information
Information employment was off by 400 (1%) in November on a seasonally adjusted basis, giving back the 400 jobs gained in October.
Over the year employers in Information lost 1,845 jobs or 4.3%, outpacing the national loss of 0.5%. Publishing Industries lost 396 jobs (2.1%), and Telecommunications was down by 672 (7.6%).
Financial Activities
Employment in Financial Activities was down by 600 (0.3%) over the month in November. Finance and Insurance lost 500 jobs, and Real Estate and Rental and Leasing lost 100, both off by 0.3%.
On an annual basis the supersector lost 2,054 jobs or 1.1%. This was worse than October’s 0.9% loss, but still the second highest annual growth of 2024 as the supersector was down by more than 2% for most of the year. Finance and Insurance was down 2,060 (1.4%) in November, and Real Estate and Rental and Leasing was mostly flat, losing 6 jobs, 0.0%.
Professional and Business Services
Professional and Business Services employers lost 1,900 jobs (0.5%) in November. The decline came entirely in Administrative and Support and Waste Management and Remediation Services, which lost 2,300 jobs (2%). Management of Companies and Enterprises was up by 400 jobs (0.5%), and employment in Professional, Scientific, and Technical Services was flat.
On an annual basis the supersector lost 15,716 jobs or 4.1%. It was the second-largest proportional loss of any supersector after Information. The decline came primarily in Administrative and Support and Waste Management and Remediation Services, which lost 12,292 jobs (9.5%) caused in large part by the loss of 6,229 jobs (11.3%) in Employment Services.
Educational and Health Services
Employment in Educational and Health Services was up 4,900 (0.8%) over the month of November. It was the largest real job gain and second-largest proportional growth among Minnesota supersectors. Educational Services was up 1,200 (1.6%), and Health Care and Social Assistance was up 3,700 (0.7%).
Over the year the supersector added 36,727 jobs or 6.3%. This was the largest real and proportional annual growth of any supersector in the state and outpaced the national growth of 3.7%. Health Care and Social Assistance drove the growth, adding 34,724 jobs or 6.9%, with component Ambulatory Health Care Services up 15,044 (9.1%). Educational Services added 2,003 jobs or 2.6%.
Leisure and Hospitality
Leisure and Hospitality employment was off by 1,500 (0.5%) OTM in November. Arts, Entertainment, and Recreation lost 700 jobs (1.6%), and Accommodation and Food Services lost 800 jobs (0.3%).
Over the year Leisure and Hospitality employers added 2,363 jobs or 0.9%. Accommodation and Food Services added 3,875 jobs (1.8%) thanks to the addition of 5,250 jobs (2.7%) in Food Services and Drinking Places. Arts, Entertainment, and Recreation employment was down 1,512 (3.6%) over the year.
Other Services
Employment in Other Services was up by 400 (0.3%) over the month of November. It was the fifth consecutive month of seasonally adjusted growth for the supersector, adding a total of 2,500 jobs during that time.
On an annual basis Other Services employers added 2,281 jobs or 2%, outpacing the national growth of 1.1%. Employment increases in Personal and Laundry Services and Religious, Grantmaking, Civic, and Professional Organizations were both 2%, adding 557 jobs and 1,282 jobs, respectively.
Government
Government employers added 800 jobs (0.2%) in November on a seasonally adjusted basis. State Government employers added 200 jobs, and Local Government added 600 (both up 0.2%), while Federal Government employment was flat at 33,400.
Over the year Government employers added 17,289 jobs or 3.9%, outpacing the national growth of 2.1%. All three levels of government added jobs on the year, with the largest real and proportional growth coming at the Local Government level (up 13,041 jobs, or 4.4%). Local Non-education employment was up 9,819 jobs or 6.7%.
| Minnesota Seasonally Adjusted Nonagricultural Wage and Salary Employment (In Thousands) | ||
|---|---|---|
| Industry | Nov-24 | Oct-24 |
| Total Nonfarm | 3035.5 | 3033 |
| Goods-Producing | 460.5 | 458.9 |
| Mining and Logging | 6.5 | 6.5 |
| Construction | 135.1 | 132.3 |
| Manufacturing | 318.9 | 320.1 |
| Service-Providing | 2575 | 2574.1 |
| Trade, Transportation, and Utilities | 534.5 | 535.3 |
| Information | 41.5 | 41.9 |
| Financial Activities | 185 | 185.6 |
| Professional and Business Services | 365.6 | 367.5 |
| Educational and Health Services | 612.8 | 607.9 |
| Leisure and Hospitality | 273.1 | 274.6 |
| Other Services | 117.5 | 117.1 |
| Government | 445 | 444.2 |
| Source: Department of Employment and Economic Development, Current Employment Statistics, 2024. | ||