by Nick Dobbins
Monthly analysis is based on seasonally adjusted employment data.
Yearly analysis is based on unadjusted employment data.*
Seasonally adjusted employment increased substantially again in October as the state added 9,500 jobs (0.3 percent) for the month, while the September employment estimate was adjusted up to a gain of 10,000 jobs (0.4 percent). Supersectors that displayed significant over-the-month growth included Trade, Transportation, and Utilities (up 5,200 or 1.0 percent), Manufacturing (up 2,300, 0.7 percent), and Educational and Health Services (up 4,500, 0.9 percent, with gains in both major component sectors). Job shedders included Leisure and Hospitality (down 2,100, 0.8 percent) and Government (down 700, 0.2 percent). Over the year Minnesota has added 49,679 jobs (1.8 percent). Once again, every supersector except Financial Activities (down 3,096, 1.7 percent) gained employment on the year, with the largest numerical gains coming in Professional and Business Services which added 11,722 jobs (3.3 percent) since October 2013.
Employment in Mining and Logging made gains in October, with the supersector adding back 100 (1.4 percent) of the jobs they lost in September to settle at 7,500 for the month. Annually, Mining and Logging has gained 616 jobs, an increase of 8.6 percent over 2013 levels.
The Construction supersector added 900 jobs (0.8 percent) in October on a seasonally adjusted basis. Construction has also added employment for the year, supporting 6,877 more jobs (6.0 percent) than 12 months ago. Annual growth continues to be driven by employment increases in Heavy and Civil Engineering Construction (up 3,088, 16.9 percent) and Specialty Trade Contractors (up 5,845, 8.1 percent). Despite the larger growth in the supersector, employment in Construction of Buildings is down 2,056 (8.3 percent) over the same time period.
Employment in Manufacturing increased in October (up 2,300, 0.7 percent) as both component sectors saw significant gains. Durable Goods Manufacturing added 1,600 jobs (0.8 percent) while employment in Non-Durable Goods Manufacturing grew by 700 (0.6 percent). The supersector has added employment every month since June. On the year, Manufacturing employment has grown by 10,451 (3.4 percent) with expansion in both major component sectors. Notable increases include the addition of 1,756 jobs (4.2 percent) in Fabricated Metal Product Manufacturing and 760 jobs (6.8 percent) in Transportation Equipment Manufacturing.
Trade, Transportation, and Utilities employment was up 5,200 (1.0 percent) in October. This represents the largest over-the-month employment increase in the supersector since October 1998. The growth was almost entirely from the addition of 5,300 jobs (1.9 percent) in Retail Trade, as Transportation and Warehousing lost 200 jobs (down 0.2 percent), and Wholesale Trade added just 100 (0.1 percent). Annually, the supersector is up 2,788 jobs (0.5 percent). Owing to the strong October performance, this represents more than double the year-over-year growth from September's estimate. The component industry to see the largest annual job growth, both proportionally and numerically, was Motor Vehicle Parts and Dealers, which added 1,611 jobs (5.0 percent).
The Information supersector shed employment in October, losing 200 jobs (0.4 percent) for the month. Employment remains up in Information for the year, however, holding on to 910 (1.7 percent) more jobs than in October 2013. However, employment in the two published subsectors, Telecommunications and Publishing Industries (except Internet) remains down for the year. This suggests stronger performances in some or all of the unpublished component sectors, which includes Internet Publishing and Broadcasting, Data Processing, Hosting, and Related Services, and Motion Picture and Sound Recording Industries.
Financial Activities continued its steady employment decline, losing 400 jobs (0.2 percent) in October, all of it coming from the Finance and Insurance sector (down 0.3 percent). Annually, the supersector has lost 3,096 jobs (1.7 percent) with losses of 3,278 (2.3 percent) in Finance and Insurance swamping the small gain of 182 (0.5 percent) in Real Estate and Rental and Leasing.
The Professional and Business Services supersector added 1,300 jobs in October. The losses largely came from Administrative and Support and Waste Management and Remediation Services which dropped 2,300 jobs (1.7 percent). Annually, they have added 11,722 jobs (3.3 percent), the largest annual increase in the state. That employment growth has been broadly-based, with increases in each component sector.
Employment in Educational and Health Services jumped sharply in October as the supersector added 4,500 jobs (0.9 percent) with increases in both Educational Services and Health Care and Social Assistance. Annually, employment is up 9,536 (1.9 percent), with both component sectors again showing significant gains.
Leisure and Hospitality employment declined in October, losing 2,100 jobs (0.8 percent). The addition of 500 jobs (1.3 percent) in Arts, Entertainment, and Recreation was insufficient to balance the loss 0f 2,600 (1.2 percent) in Accommodation and Food Services. For the year, the supersector has added 5,051 jobs (2.0 percent), almost entirely from the addition of 5,193 jobs (2.8 percent) in Food Services and Drinking Places.
Other Services added 1,200 jobs (1.0 percent) in October. That is the second consecutive month that this supersector has seen more dramatic growth than any time in the last four years. Annually, Other Services has added 1,316 jobs (1.1 percent), largely from the addition of 1,378 jobs (2.0 percent) in Religious, Grantmaking, Civic, Professional, and Similar Organizations.
Government employment dipped slightly in October, down 700 (0.2 percent) from September estimates as Local Government lost 1,600 jobs (0.6 percent). Annually, Government employers added 3,508 jobs (0.8 percent). The lion's share of that growth has come from Local Government, which added 3,259 jobs (1.1 percent), 2,015 of which came in Educational Services.
|Seasonally Adjusted Nonfarm Employment (in thousands)|
|Mining and Logging||7.5||7.4||7.6|
|Trade, Transportation, and Utilities||519.3||514.1||513.8|
|Professional, Scientific, and Technical Services||143.2||141.9||139.4|
|Educational and Health Services||506.3||501.8||499.4|
|Leisure and Hospitality||253.3||255.4||251.2|
|Source: Department of Employment and Economic Development, Current Employment Statistics, 2014.|
* Over-the-year data are not seasonally adjusted because of small changes in seasonal adjustment factors from year to year. Also, there is no seasonality in over-the-year changes.