State adds 4,300 jobs in July
Minnesota employers added 4,300 jobs in July, according to figures released today by the Minnesota Department of Employment and Economic Development (DEED).
The state has gained 71,500 jobs over the past year, a growth rate of 2.6 percent, compared with a U.S. growth rate of 1.7 percent.
The seasonally adjusted unemployment rate for the state remained unchanged in July at 5.2 percent, well below the U.S. jobless rate of 7.4 percent. June's figures were revised from 400 jobs gained to 1,000 jobs lost.
"On an annual basis, the Minnesota labor market is recovering at a pace we haven't seen since the expansion of the 1990s," said DEED Commissioner Katie Clark Sieben. "We're edging closer to pre-recessionary employment levels, needing to add just 5,500 jobs to regain all the jobs that were lost in the recession."
Government led all sectors in July by gaining 4,000 jobs, followed by financial activities (up 2,300), leisure and hospitality (up 1,400), other services (up 1,300), information (up 1,100), and professional and business services (up 100). Logging and mining held steady.
Job losses occurred in education and health care (down 2,600), construction (down 1,700), manufacturing (down 1,400), and trade, transportation and utilities (down 200).
Ten of the state's 11 major industrial sectors have gained jobs in the past year, led by professional and business services (up 16,200). Other gains have occurred in government (up 15,700), trade, transportation and utilities (up 13,000), leisure and hospitality (up 12,200), education and health services (up 9,900), construction (up 2,600), financial activities (up 2,400), information (up 1,300), logging and mining (up 500), and other services (up 400).
The only sector to lose jobs over the past year was manufacturing (down 2,500).
In the state Metropolitan Statistical Areas, job growth occurred in the past 12 months in the Minneapolis-St. Paul MSA (up 3.7 percent), St. Cloud MSA (up 3 percent), Mankato MSA (up 1.7 percent), Rochester MSA (up 0.5 percent) and Duluth-Superior MSA (up 0.5 percent).
DEED is the state's principal economic development agency, promoting business recruitment, expansion and retention, workforce development, international trade and community development.