Minnesota’s seasonally adjusted unemployment rate remained steady at 4.0% in June and the state’s labor force participation rate also remained level at 67.9%, according to numbers released today by the Minnesota Department of Employment and Economic Development (DEED). Nationally, the unemployment rate rose one-tenth of a percentage point in June to 5.9% with labor force participation holding steady at 61.6%.
Over the month, Minnesota lost 600 jobs on a seasonally adjusted basis. The private sector lost 3,100 jobs, down 0.1%. These losses are the first since December 2020 in Minnesota. Growth has been uneven from month to month coming out of the pandemic recession. Translating seasonally adjusted job change into a 3-month moving average series, which helps level out this unevenness, Minnesota added 15,400 jobs, up 0.6%, in Feb-April; 14,267, up 0.5%, in March-May; and 7,267, up 0.3%, in April-June, a strong growth pattern. Nationally, this compares to 0.4% growth in each of these three periods.
“We know that our recovery from the pandemic will take time, both nationally and at the state level,” said DEED Commissioner Steve Grove. “The good news is there are lots of great opportunities in our economy right now, and we’re spending every day finding new ways to connect workers with jobs in the industries most in demand.”
Based on 12-month moving averages, the unemployment rate for Black Minnesotans fell in June to 4.5% from 6.9% in May and for Latinx Minnesotans, it remained steady at 6.6% in June. White Minnesotans were at 4.9% in June, down from 5.1% in May.
Over the month in June, the U.S. gained 850,000 jobs, up 0.6%, with the private sector up 662,000 jobs or 0.5%.
Over the month from May to June in Minnesota, six supersectors lost jobs and five gained jobs on a seasonally adjusted basis.
- Losses were in Education & Health Services, down 2,500 jobs or 0.5%; Financial Services, down 2,200 or 1.2%; Construction, down 2,100 or 1.6%; Leisure & Hospitality, down 500 or 0.2%; Manufacturing, down 300 or 0.1%; and Mining & Logging, down 100 or 1.6%.
- Gains were in Trade, Transportation and Utilities, up 2,700 jobs or 0.5%, more than making up for the 2,400 jobs lost in May. Government gained 2,500 jobs in June, up 0.6%. Professional & Business Services gained 1,200 jobs, up 0.3%; Information gained 400 jobs, up 1.0%; and Other Services gained 300 jobs, up 0.3%.
Minnesota lost 416,300 jobs from February through April 2020 and has since gained 245,800 jobs, or 59.0% of the jobs lost on a seasonally adjusted basis. The private sector has regained 60.6% of the jobs lost. This is down from last month due to the downward revision in May and the decrease of 600 jobs in June, seasonally adjusted.
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