Minnesota’s Unemployment Rate Drops in March

Minnesota’s unemployment rate inched down two-tenths of a percent to 2.8% in March 2023 from February and the labor force participation rate stayed the same over the month at 68.0%, according to new data from the Minnesota Department of Employment and Economic Development.

Minnesota lost 5,700 jobs, down 0.2% from February to March on a seasonally adjusted basis.  The private sector lost 6,100 jobs, down 0.2%.  Government jobs grew by 400 in Minnesota over the month, offsetting some of the losses in the private sector.

Nationally, the U.S. unemployment rate ticked down one tenth of a percentage point to 3.5% and the labor force participation rate ticked up one tenth of a percent to 62.6%.