(KNSI) – August was a return to form for the Minnesota jobs market, with employers adding 5,900 people to payrolls.
Adding to the rosy picture is the fact that July’s job loss was almost completely revised away. Instead of dropping 4,400 jobs that month, it was only 500. However, with more people looking for work, the unemployment rate ticked up by 0.1%. It’s now up to 3.6%, roughly a full percent higher than during the pandemic. Minnesota’s labor force participation rate is at 68.1%. Both rates are still significantly better than the national average.
The best industries in August were construction, and education and health services. Government employees continue to be laid off, and manufacturing is shrinking, dropping 900 jobs last month.
Minnesota Department of Employment and Economic Development Commissioner Matt Varilek characterized the job market performance as strong. It caps a good year. Over the last 12 months, the state saw 39,255 jobs added, an increase of 1.3%.
DEED collects non-seasonally adjusted data for job trends by metro area. St. Cloud was the only region in the state to lose jobs compared to a year ago.
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