MN’s Unemployment Rate in April Remains Well Below National Average

Minnesota saw its labor force grow again in May as 8,700 workers entered the job market, the largest over the month labor force gain since June 2020 and the third straight month with a labor force increase.

Employers added 7,770 new jobs in May and Minnesota’s labor force participation rate rose 0.1% to 68.2%.  With more Minnesotans in the workforce, the unemployment rate increased 0.1% to 2.9%.

Minnesota’s labor force also grew in April, by almost 3,600 people.  The three month worker gain of 13,019 is the largest since January to March of 2022.  But the labor force is still about 32,200 workers smaller than it was in February of 2020 before the COVID-19 pandemic.

Job growth in May was fueled by gains in the Business & Professional Service and Leisure & Hospitality supersectors, which add 2,900 jobs and 2,300 jobs respectively.

Minnesota’s job market continues to outpace the U.S. as a whole, which logged a 3.7% unemployment rate and a 62.6% labor force participation rate in May.