Minnesota’s unemployment rate dropped a tenth of a percentage point in January, according to the Minnesota Department of Employment and Economic Development (DEED). The state’s seasonally adjusted unemployment rate is 3.2%. The U.S. unemployment rate increased slightly from 3.5% in December to 3.6% in the first month of 2020.
Minnesota added 8,500 jobs to the private sector on a seasonally adjusted basis in January. According to DEED, this is the largest job growth the private sector has seen in 20 months. Overall, state job growth plateaued at 0.1%, compared to nationwide job growth which increased by 1.2%. The state’s slow job growth has been credited to the tight job market Minnesota is experiencing currently.
“DEED’s working hard to ensure that job seekers are prepared for in-demand jobs, and Minnesota employers have the tools they need to train their workers to adapt to the changing workplace.” said DEED Commissioner Steve Grove.
Construction saw a 3.1% employment growth since January 2019; the highest growth among all other job sectors. Other industries that saw growth over the last year include Professional and Business Services (1%) and Leisure and Hospitality (0.3%).
In the Metropolitan Statistical Areas, employment growth rates varied: Minneapolis-St. Paul MSA (up 0.1%), Rochester MSA (down 0.7%), St. Cloud MSA (up 0.5%), Duluth-Superior MSA (down 0.7%), and Mankato MSA (up 2.1%).
