Minnesota’s unemployment rate remained at 3.4% in October and for the fourth consecutive month the state’s labor force participation rate held steady at 67.7%, according to data form the Minnesota Department of Employment and Economic Development (DEED).
Six of Minnesota’s 11 supersectors added jobs in October, including Education & Health Services; Leaisure & Hospitality; and Manufacturing. Four supersectors lost jobs, including Professional & Business Services and Construction.
Annually, five supersectors posted positive annual growth in the state, including Education and Health Services, which was up 33,412, or 5.8% for Minnesota, outpacing the national rate of 3.8%. Growth was also strong in Minnesota’s Health Care & Social Assistance sector, up 6.7% annually.
Minnesota lost 1000 jobs in October on a seasonally adjusted basis, translating to a 0.0% change. This over the month loss is neutralized by an upward revision to the number of jobs gained in September (an additional 1,100 were added following revisions to the numbers).
Minnesota gain 33,257 payroll jobs, up 1.1% over the year, which is slightly slower than the national rate of 1.5%.
