Minnesota gained 10,100 jobs in the last month (seasonally adjusted basis), up 0.3%. The private sector gained 9,400 jobs, up 0.4%. In comparison, U.S. employment increased by 311,000 jobs, up 0.2%, with the private sector up 265,000 jobs, or 0.2%, from January to February.
Minnesota lost 416,000 jobs from February through April 2020 and has since gained 405,900 jobs as of February 2023, or 97.6% of the jobs lost (seasonally adjusted basis). The private sector lost 385,900 jobs from February through April 2020 and has regained 388,700 jobs. This marks the first month when the private sector has fully recovered from pandemic-induced loss and went on to gain an additional 2,800 jobs.
From January to February, Minnesota’s unemployment rate ticked up one-tenth of a percent to 3% and the labor force participation rate ticked down one-tenth of a percent to 68%. Nationally, over the month, the unemployment rate rose two-tenths of a percent to 3.6% and the labor force participation rate ticked up one-tenth percent to 62.5%.
“Minnesota’s continued job growth is great news – it’s a sign of the ongoing strength of Minnesota companies and employers,” said interim DEED Commissioner Kevin McKinnon. “We’re focused on helping Minnesotans who are unemployed connect with the many good jobs available right now across industries and throughout the state.”
Over the month in Minnesota, construction gained 2,200 jobs, other services gained 1,800 jobs, manufacturing gained 1,500 jobs, professional and business services gained 1,300 jobs and education health services gained 1,000 jobs driven by a gain of 2,600 jobs in health care and social assistance.
For more information on the recent jobs report, CLICK HERE.