Minnesota gained 14,500 jobs, up 0.5% in July on a seasonally adjusted basis, and the private sector gained 8,700 jobs, up 0.4%, according to numbers released by the Minnesota Department of Employment and Economic Development (DEED).
These were the largest gains since March for total employment and the largest since May for private sector employment.
Minnesota’s seasonally adjusted unemployment rate ticked down one-tenth of a percentage point to 3.9% in July.
This drop was due to people moving into jobs as well as a small decline in the state’s labor force participation, which also ticked down by a tenth of a point to 67.8% in July.
Nationally, the unemployment rate fell a half a percentage point to 5.4% in July, with labor force participation up one-tenth to 61.7%.
Because jobs numbers have been a little bumpy across the country this last year, translating seasonally adjusted job change into a 3-month moving average helps give a clearer picture of Minnesota’s trajectory.
Minnesota added 14,300 jobs, up 0.5%, in March-May; 9,100 jobs, up 0.3%, in April-June; and 9,500, up 0.3%, in May-July, continuing a growth pattern. Nationally, this compares to 0.4% growth in the first two periods and 0.5% growth during the May-July period.
Based on 12-month moving averages, the unemployment rate for Black Minnesotans fell in July to 3.5% from 4.5% in June and for Latinx Minnesotans, it rose one-tenth of a point to 6.7% in July compared to 6.6% in June. White Minnesotans were at 4.7% in July, down from 4.9% in June.
Over the month in July, the U.S. gained 943,000 jobs, up 0.6%, with the private sector up 703,000 jobs or 0.6%.
Minnesota lost 416,300 jobs from February through April 2020 and has since gained 265,800 jobs, or 63.8% of the jobs lost on a seasonally adjusted basis. The private sector has regained 64.6% of the jobs lost.
June employment losses were revised upward by 5,500 in total employment and 6,900 in the private sector. June now shows growth of 4,900 jobs, up 0.2% in total employment and 3,800 jobs, up 0.2% in the private sector.
Over the year in July, Minnesota gained 140,908 payroll jobs, up 5.1%, with the private sector gaining 124,445 jobs, up 5.3%. U.S. employment grew 5.3% over the year with the private sector up 5.8%.