Minnesota’s seasonally adjusted unemployment rate ticked up one tenth of a percent to 2.8% in May.
The Minnesota Department of Employment and Economic Development (DEED) says the state labor force participation rate remained at 68.0% in May, one of the highest levels in the country and leaving Minnesota with an extremely tight labor market.
In addition, employers pulled back last month with the state losing 8,600 jobs from April to May on a seasonally adjusted basis, a 0.3% decline. DEED says Minnesota’s private sector lost 9,800 jobs, down 0.4% over the month. The state has gained jobs nine out of the last 12 months.
Nationally, the unemployment rate ticked up one tenth of a percentage point to 4.0% and the labor force participation rate fell two tenths of a percentage point to 62.5% in May.