STATE POSTS ROBUST JANUARY JOB GROWTH Minnesota Employment and Economic Development announces growth is signaling a strong start to 2023 Community News C
M innesota gained 14,100 jobs over the month in January, up 0.5%, on a seasonally adjusted basis, according to numbers released by the Minnesota Department of Employment and Economic Development (DEED). The state’s private sector gained 12,000 jobs, also up 0.5%. From December to January, Minnesota’s unemployment rate stayed at 2.9% and the labor force participation rate remained at 68.1%, after revisions that are made every year at this time. “Our biggest month-to-month job growth in nearly a year indicates our labor market is still very tight but not so tight as to greatly constrain job growth,” said DEED Labor Market Information Director Angelina Nguyen. “This is good news for employers and job seekers.” Over the month in Minnesota, eight supersectors gained jobs on a seasonally adjusted basis from December to January, including notable growth in the following: • Construction gained 2,200 jobs, 1.7% • Trade, Transportation, and Utilities gained 1,300 jobs, up 0.2% • Professional & Business Services gained 6,600 jobs, up 1.7% • Education and Health Services gained 2,000 jobs, up 0.4% • Government gained 2,100 jobs, up 0.5% Over the year, Minnesota gained 68,807 payroll jobs, up 2.4%. The private sector gained 60,741 jobs, up 2.5% over the year. These gains put total nonfarm employment 29,504 jobs short of January 2020 employment and 15,134 jobs short in the private sector.
All supersectors posted positive annual growth except one. These are the noteworthy changes: • Leisure & Hospitality continued strong recovery from the pandemic, posting the largest growth (up 20,770 jobs) and outpaced the national rate (8.9% in MN, 8.3% in the US). This growth was driven by double-digit percentage increases in Arts, Entertainment, and Recreation, and Accommodation. • Education & Health Services saw the second largest over-the-year growth, up 14,461 jobs (2.7%), mostly driven by growth in Ambulatory Health Care Services, Nursing and Residential Care Facilities, and Social Assistance. However, Minnesota’s job growth in this supersector is lower than that of the US, 2.7% vs. 4.2%. • Trade, Transportation & Utilities saw healthy growth, adding 9,235 jobs (1.8%), outpacing the US by 0.1%. Growth was driven by Building Material and Garden Equipment Dealers, Transportation and Warehousing, and Sporting Goods, Hobby, Musical Instruments and Miscellaneous Retailers, in spite of declines in General Merchandise Retailers and Department Stores. • Manufacturing was up 7,519 jobs (2.4%). Information grew 3.2% with 1,444 more jobs. • Government posted positive growth over the year, up 8,066 jobs (2%). • Mining & Logging was the only supersector that saw negative growth, a negligible 25 jobs loss (0.4%) Read more at http://bit.ly/3Z7NmAq
| Advantage Magazine 26
April 2023
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