State's jobless rate drops to 5.6 percentThe state unemployment rate fell 0.2 percent in April to a seasonally adjusted 5.6 percent, according to figures released today by the Minnesota Department of Employment and Economic Development (DEED).
The state unemployment rate fell 0.2 percent in April to a seasonally adjusted 5.6 percent, according to figures released today by the Minnesota Department of Employment and Economic Development (DEED). The U.S. unemployment rate was 8.1 percent last month.
Minnesota employers eliminated 3,100 jobs in April. Year-over-year, however, the state has gained 14,700 jobs, representing a growth rate of 0.6 percent. U.S. job growth was 1.3 percent in the past 12 months.
"Despite the job losses last month, most signs point to employment growth over the long term," said DEED Commissioner Mark Phillips. "The economy continues to move in a positive direction, with fundamentals remaining relatively strong and better than a year ago."
Manufacturing led all sectors with 2,200 new jobs last month, followed by financial activities (up 2,000) and education and health services (up 1,600). Logging and mining held steady.
Job losses occurred in April in trade, transportation and utilities (down 3,400), construction (down 1,600), leisure and hospitality (down 1,400), government (down 1,000), professional and business services (down 1,000), other services (down 300) and information (down 200).
Over the past year, job gains have occurred in education and health services (up 12,100), professional and business services (up 10,300), manufacturing (up 4,900), other services (up 2,700), financial activities (up 2,200), construction (up 1,600), information (up 500), and logging and mining (up 300).
Three sectors have lost jobs in the past year: leisure and hospitality (down 10,300), government (down 7,200), and trade, transportation and utilities (down 2,300).
In the state Metropolitan Statistical Areas, job gains occurred in the past 12 months in the Mankato MSA (up 1.4 percent), St. Cloud MSA (up 0.6 percent) and Minneapolis-St. Paul MSA (up 0.3 percent). Job losses occurred in the Rochester MSA (down 1.1 percent) and Duluth-Superior MSA (down 1.6 percent).
DEED is the state's principal economic development agency, promoting business recruitment, expansion and retention, workforce development, international trade and community development.