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Tuesday, May 24, 2022

Minnesota added 8,600 jobs in November; unemployment rate falls

Minnesota continues to see robust job growth, with the state adding 8,600 jobs in November, according to the state’s latest job report.

A Minnesota Department of Employment and Economic Development report released Thursday showed that the seasonally adjusted unemployment rate fell 0.2 percentage points to 3.3 percent last month. The national rate for the month is 4.2 percent.

Minnesota has restored 304,400 jobs, or 73 percent, of jobs lost since the start of the coronavirus pandemic.

“Continued job growth this fall has put Minnesota on a more sustainable path to growth,” DEED Commissioner Steve Grove said in a prepared statement. “Coupled with significant wage increases, the labor market in Minnesota is hot.”

Other key details in DEED Thursday’s announcement:

  • Average hourly wages in Minnesota rose 42 cents to $ 33.79 in November for private sector jobs. This is $ 1.73, or 5.4 percent, up from November 2020.
  • The labor force participation rate stood at 67.7 percent in November, up from 67.8 percent a month earlier. The US rate in November was 61.8 percent.


How is the industry doing in November:

  • Leisure and hospitality, up to 2,900 employees.
  • Professional and business services up to 2100.
  • Educational and medical services – 1600 people.
  • Construction, up to 1500.
  • Production, up to 1500.
  • Other services up to 1200.
  • Trade, transport and utilities, up to 600.
  • State employers have cut 1,600 jobs.
  • Information, down 700.
  • Financial activity – a decrease of 400.
  • Mining and logging industry – by 100.

World Nation News Deskhttps://www.worldnationnews.com
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