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Industrial Analysis

Nick_Dobbins

by Nick Dobbins
March 2022

Monthly analysis is based on seasonally adjusted employment data.
Yearly analysis is based on unadjusted employment data.

Minnesota Seasonally Adjusted Nonagricultural Wage and Salary Employment (in Thousands)
Industry Mar-22 Feb-22 Jan-22
Total Nonfarm 2893.8 2882.3 2869.3
Goods-Producing 459.6 457.1 454.7
Mining and Logging 6.8 6.7 6.7
Construction 128.3 128.2 128
Manufacturing 324.5 322.2 320
Service-Providing 2434.2 2425.2 2414.6
Trade, Transportation, and Utilities 520.1 518.1 511.7
Information 43.5 43 43.2
Financial Activities 189.4 187.6 189.4
Professional and Business Services 377.8 377.1 376.7
Educational and Health Services 543.3 542.4 538.6
Leisure and Hospitality 250.9 248.1 245.3
Other Services 107.2 107.4 108.4
Government 402 401.5 401.3
Source: Department of Employment and Economic Development, Current Employment Statistics, 2021.

Overview

Seasonally adjusted employment in Minnesota was up 5,200 (0.2%), with growth of 0.2% among both goods producers and service providers (up 700 and 4,500 jobs, respectively). Private sector employment was up 5,100 (0.2%) while public sector employment was up 100 (0.0%).

Over the year state employers added 60,909 jobs (2.2%). Goods producers added 15,696 jobs (3.7%) while service providers added 45,213 jobs (1.9%).

Mining and Logging

Seasonally adjusted employment growth in Mining and Logging was flat over the month in February, holding at 6,700 jobs. The supersector has not posted negative monthly growth since August 2021.

Over the year Mining and Logging employers added 420 jobs (7.1%). This was an improvement over January's 5% over-the-year growth, and the highest over-the-year growth in the supersector since July 2021.

Construction

Construction employment was down in January as the employers shed 1,400 jobs (1.1%). After strong performances in the spring and summer of 2021, the supersector posted seasonal losses in five of the past six months.

On an annual basis Construction employers lost 75 jobs (0.1%). Specialty Trade Contractors added 718 jobs (1%), but those gains were countered by the loss of 200 jobs (0.8%) in Construction of Buildings and 593 jobs (4.3%) in Heavy and Civil Engineering Construction.

Manufacturing

Employment in Manufacturing was up by 900 (0.3%) over the month in February. Non-Durable Goods Manufacturing drove the growth, up 700 jobs (0.6%) while Durable Goods added 200 jobs (0.1%).

On an annual basis Manufacturing employers added 10,370 jobs (3.4%). It was one of only two supersectors to add more than 10,000 jobs on the year, Leisure and Hospitality being the other. Durable Goods employment was up 5,562 (2.8%), and Non-Durable Goods employment was up 4,808 (4.4%) despite growth of just 1.9% (864 jobs) in its only published component sector, Food Manufacturing.

Trade, Transportation, and Utilities

Trade, Transportation, and Utilities employment was up 3,100 (0.6%) in February, its fourth consecutive month of seasonally adjusted growth. Retail Trade drove the growth, adding 3,000 jobs (1.1%). Transportation, Warehousing, and Utilities added 300 jobs (0.3%) while Wholesale Trade lost 200 (0.2%).

Over the year Trade, Transportation, and Utilities employment was up 1,812 jobs (0.4%), an improvement over January's over-the-year loss of 0.5%. Employment in Wholesale Trade was down 0.8% (1,045 jobs), and Retail Trade was off by 0.4% (1,225 jobs). Transportation, Warehousing, and Utilities kept the supersector above water, adding 4,082 jobs or 4%.

Information

Employment in Information was up by 100 jobs (0.2%) in February, after adding 600 jobs (1.4%) in January.

Over the year Information employers added 1,141 jobs (2.7%). That marked three consecutive months with growth of better than 2% for the supersector, which prior to 2021 had posted consistent over-the-year job losses since 2017. Despite the recent uptick, employment in Information remains on a long-term downward trend.

Financial Activities

Financial Activities employment was down 1,500 (0.8%) over the month in February. All of the losses came in Finance and Insurance (down 1%) as Real Estate and Rental and Leasing employment was flat.

Over the year the supersector lost 3,909 jobs (2%). It was one of only two supersectors to lose jobs on the year with Education and Health Services the second. The decline was entirely in Finance and Insurance, which was off by 5,214 jobs (3.3%). Real Estate and Rental and Leasing employment was up by 4% (1,305 jobs).

Professional and Business Services

Employment in Professional and Business Services was down by 300 (0.1%) on a seasonally adjusted basis in February. Professional, Scientific, and Technical Services lost 200 jobs (0.1), and Administrative and Support and Waste Management and Remediation Services lost 500 (0.4%), while Management of Companies added 400 jobs (0.5%).

Over the year the supersector added 5,600 jobs (1.5%), with all three component sectors posting positive growth. Professional, Scientific, and Technical Services led the way, adding 3,467 jobs or 2.2%.

Educational and Health Services

Educational and Health Services employers added 3,800 jobs (0.7%) on a seasonally adjusted basis. Educational Services added 1,000 jobs (1.4%), and Health Care and Social Assistance added 2,800 (0.6%).

Over the year the supersector lost 3,500 jobs (0.6%). Educational Services added 1,742 jobs (2.4%). Health Care and Social Assistance lost 5,242 jobs (1.1%) with Nursing and Residential Care Facilities driving the decline, losing 5,675 jobs or 5.4%.

Leisure and Hospitality

Employment in Leisure and Hospitality was flat in February, holding at 245,300 jobs. It was the first month without seasonally adjusted growth in the supersector since September of last year and only the second month since 2020.

Over the year employers in the supersector added 35,851 jobs or 18.5%. It remained the largest real and proportional growth of any supersector in the state, although it was down from January's 26.5% growth.

Other Services

Employment in Other Services was up by 1.1% (1,200 jobs) in January, their fourth consecutive month of seasonally adjusted growth.

On an annual basis employment in Other Services was up 8.9% (8,915 jobs). It was the second-largest proportional growth of any supersector in the state after Leisure and Hospitality, as Other Services employers continued to build back from pandemic-related losses.

Government

Government employers added 100 jobs (0.0%) over the month in February. State and Federal employment was flat, while Local Government employers added 100 jobs (0.0%).

Over the year Government employers added 2,860 jobs (0.7%). The growth came entirely from Local Government employers, who added 4,528 jobs (1.7%), with most of that coming in Local Government Education. State employers shed 870 jobs (0.9%), and Federal employers lost 798 (2.5%).

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