(KNSI) – Minnesota rang in the new year with solid job gains.
The Department of Employment and Economic Development says payrolls expanded by 14,100 positions on a seasonally-adjusted basis. A majority of that, about 12,000 jobs, came from the private sector. The unemployment rate stayed steady at 2.9% compared to December and the labor force participation rate was flat at 68.1%, well above the national average.
The state’s figures match what was seen across the country. Preliminary estimates for the United States show 517,000 jobs were added in the first month of this year. Other factors for the improvement were annual adjustments and favorable weather.
DEED puts out revised jobs figures every March affecting the past several years. June 2022’s 1.8% unemployment rate was adjusted upward. April 2022, at 2.3%, is now recognized as the lowest mark for last year.
Over the full year, Minnesota gained over 68,000 jobs. The best-performing sectors were leisure and hospitality (20,770), education and health services (14,461), and transportation and utilities (9,235).
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