State jobless rate edges up to 5.8 percentThe state unemployment rate edged 0.1 percent higher in March to a seasonally adjusted 5.8 percent, according to figures released today by the Minnesota Department of Employment and Economic Development (DEED). The state remained well below the U.S. unemployment rate of 8.2 percent.
ST. PAUL - The state unemployment rate edged 0.1 percent higher in March to a seasonally adjusted 5.8 percent, according to figures released today by the Minnesota Department of Employment and Economic Development (DEED). The state remained well below the U.S. unemployment rate of 8.2 percent.
Employers eliminated 200 jobs statewide in March, and figures from February were revised from 6,200 jobs gained to 5,800 jobs gained. The private sector, however, added 1,600 jobs in March and has recovered 88,000 (58 percent) of the jobs that were lost during the recession.
"The underlying fundamentals of the economy remain strong, even after job losses last month for the first time since November," said DEED Commissioner Mark Phillips. "Declines in new claims for jobless benefits, increased job postings online and strong retail sales are among the signs of an improving economy."
Trade, transportation and utilities led all sectors in March, adding 2,500 jobs, followed by leisure and hospitality (up 1,200) and education and health services (up 200).
Jobs losses occurred in government (down 1,800), manufacturing (down 1,000), construction (down 500), professional and business services (down 300), other services (down 300), information (down 100) and logging and mining (down 100). Financial activities held steady during the month.
The following sectors have added jobs over the past year: education and health services (up 13,700), professional and business services (up 12,600), manufacturing (up 6,200), trade, transportation and utilities (up 4,100), other services (up 3,800), construction (up 3,000), information (up 1,100), financial activities (up 1,000) and logging and mining (up 200).
Job losses have occurred in the past year in leisure and hospitality (down 9,500) and government (down 6,700).
In the state Metropolitan Statistical Areas, job gains occurred in the past 12 months in the Mankato MSA (up 3.3 percent), St. Cloud MSA (up 1.3 percent) and Minneapolis-St. Paul MSA (up 1.2 percent). Job losses occurred in the Rochester MSA (down 0.8 percent) and Duluth-Superior MSA (down 0.8 percent).
DEED is the state's principal economic development agency, promoting business recruitment, expansion and retention, workforce development, international trade and community development. For more details about the agency and our services, visit us at www.PositivelyMinnesota.com.