by Nick Dobbins
November 2024
Monthly analysis is based on seasonally adjusted employment data.
Yearly analysis is based on unadjusted employment data.
Employment in Minnesota was down 1,000 (0.0%) over the month in October. The decline came entirely among service providers, which was off by 1,000 (0.0%) as employment in goods production was flat at 458,400. Private sector employers lost 300 jobs (0.0%), and public sector employers shed 700 jobs (0.2%).
Over the year Minnesota employers added 33,257 jobs or 1.1%. Goods producers lost 6,322 jobs (1.3%) while service providers added 39,579 jobs (1.6%). Nationally annual employment was up by 1.3%.
Employment in Mining and Logging was flat in October on a seasonally adjusted basis, holding at 6,500 jobs. It was the fourth consecutive month of employment at that level.
On an annual basis, employers in Mining and Logging shed 106 jobs or 1.6%. This was an improvement over September's -1.8% growth, which in turn was better than August's -2.2%. Nationally, employment in Mining and Logging was off by 0.8%.
Employment in Construction was off by 1,100 (0.8%) in October. It was the fourth consecutive month of seasonally adjusted declines in the supersector.
Over the year construction employers lost 2,196 jobs or 1.5%. Construction of Buildings was up by 248 (0.8%), while the other two component sectors lost jobs. Specialty Trade Contractors drove the decline, shedding 2,374 jobs (2.6%). Heavy and Civil Engineering Construction was down 70 jobs or 0.3%.
Manufacturing employers added 1,100 jobs (0.3%) over the month of October. It was the second month of growth for the supersector Both component sectors added jobs, with Durable Goods Manufacturing employment up 400 jobs (0.2%) and Non-Durable Goods Manufacturing up 700 (0.6%).
On an annual basis Manufacturing employment was down by 4,020 (1.2%). The decline was driven entirely by Durable Goods Manufacturing, which was off by 6,125 (2.9%) as all of its component sectors shed jobs on the year. Non-Durable Goods Manufacturing employment was up by 2,105 or 1.8%, as Food Manufacturing added 1,645 jobs (3.4%).
Employment in Trade, Transportation, and Utilities was up by 300 jobs (0.1%) in October. Retail Trade was off by 500 (0.2%), and Transportation, Warehousing, and Utilities was off by 200 (0.2%), while Wholesale Trade employers added 400 jobs (0.3%).
On an annual basis the supersector added 940 jobs (0.2%), which was slightly worse than September's 0.7% annual growth. Both trade sectors lost jobs in October, as Retail Trade was off by 393 (0.1%) and Wholesale Trade was off by 1,077 (0.8%). Transportation, Warehousing, and Utilities added 2,410 jobs or 2.1%.
Information employers added 300 jobs (0.7%) over the month in October. While the supersector has had five months of positive growth and five months of negative growth in 2024, employment was down from 43,100, where it ended in 2023, to 41,800 in October.
Over the year, Information employers lost 1,777 jobs, or 4.1%. This was an improvement from September's -5.7%, and the strongest OTY growth the supersector has reached in 2024. Publishing Industries employment was down 351 (1.9%) and Telecommunications was down by 608 (6.9%).
Employment in Financial Activities was up by 100 (0.1%) in October. It was the supersectors first month of seasonally adjusted growth after losing jobs in four consecutive months. Real Estate and Rental and Leasing employment was up 200 (0.6%), while their counterparts in Finance and Insurance shed 100 jobs (0.1%).
Over the year employment in Financial Activities was down by 2,139 jobs or 1.1%. The decline came entirely among Finance and Insurance employers, which shed 2,277 jobs (1.5%), while Real Estate and Rental and Leasing employers added 138 jobs or 0.4%.
Employment in Professional and Business Services was off by 3,100 (0.8%) over the month of October. Administrative and Support and Waste Management and Remediation Services drove the losses, losing 2,500 jobs (2.1%), while Professional, Scientific, and Technical Services lost 600 jobs (0.4%), and Management of Companies employment was flat.
Over the year Professional and Business Services employers lost 14,902 jobs (3.8%). Administrative and Support and Waste Management and Remediation Services lost 10,342 jobs (7.9%), with component Employment Services off by 10.4% or 5,747 jobs.
Employment in Educational and Health Services was up by 1,300 (0.2%) in October. The supersector has posted positive seasonally adjusted growth for 24 consecutive months dating back to November of 2022.
Over the year Educational and Health Services employers added 33,412 jobs or 5.8%, outpacing the national growth of 3.8% in the supersector. The growth came entirely from Health Care and Social Assistance, which was up 33,538 jobs (6.7%) as Private Educational Services employers lost 126 jobs or 0.2%.
Leisure and Hospitality employment was up by 1,100 (0.4%) over the month of October. It was the third consecutive month of positive growth for the supersector. Arts, Entertainment, and Recreation added 200 jobs (0.4%), and Accommodation and Food Services added 900 jobs (0.4%).
On an annual basis Leisure and Hospitality employers added 4,500 jobs or 1.7%, better than the national over-the-year growth of 1.4%. Accommodation and Food Services added 7,496 jobs (3.4%), while Arts, Entertainment, and Recreation lost 2,996 jobs (5.3%).
Employment in Other Services was up by 300 (0.3%). It was the fourth consecutive month of seasonally adjusted growth for the supersector.
On an annual basis Other Services employers added 1,563 jobs or 1.4%. This outpaced the national growth of 1.5%. All three published component sectors added jobs, with Repair and Maintenance up 319 (1.3%), Personal and Laundry Services up 450 (1.6%), and Religious, Grantmaking, Civic, and Professional Organizations up 794 (1.2%).
Government employment was down by 700 (0.2%) in October on a seasonally adjusted basis. Local Government employers lost 800 jobs (0.3%), and Federal Government employers added 100 (0.3%), while State Government employment was flat on the month.
Over the year Government employers added 17,982 jobs or 4.2%, outpacing the national growth of 2%. All three levels of government added jobs on the year. Local Government employers added 13,513 (4.6%), State Government employers added 3,931 (3.8%), and Federal Government employers added 538 jobs (1.6%).
| Minnesota Seasonally Adjusted Nonagricultural Wage and Salary Employment (In Thousands) | |||
|---|---|---|---|
| Industry | Oct-24 | Sep-24 | Aug-24 |
| Total Nonfarm | 3031.8 | 3032.8 | 3025.4 |
| Goods-Producing | 458.4 | 458.4 | 458.6 |
| Mining and Logging | 6.5 | 6.5 | 6.5 |
| Construction | 132.4 | 133.5 | 133.9 |
| Manufacturing | 319.5 | 318.4 | 318.2 |
| Service-Providing | 2573.4 | 2574.4 | 2566.8 |
| Trade, Transportation, and Utilities | 534.6 | 534.9 | 534 |
| Information | 41.8 | 41.5 | 41.9 |
| Financial Activities | 185.4 | 185.3 | 185.7 |
| Professional and Business Services | 367.4 | 370.5 | 368.9 |
| Educational and Health Services | 607.5 | 606.2 | 605.1 |
| Leisure and Hospitality | 275.6 | 274.5 | 273.8 |
| Other Services | 116.8 | 116.5 | 116.2 |
| Government | 444.3 | 445 | 441.2 |
| Source: Department of Employment and Economic Development, Current Employment Statistics, 2024. | |||
