Strong Economy Outpaces US for 4th Consecutive Month
November 1, 2017
All MSAs saw job gains in past 12 months
In August, the Minnesota unemployment rate climbed 0.1 percent to a seasonally adjusted 3.8 percent. The U.S. unemployment rate was 4.4 percent.
The state lost 6,600 jobs in August, and the number of jobs gained in July was revised downward by 5,100 positions. Over the past year, Minnesota has gained 49,695 jobs, an increase of 1.7 percent. For the fourth consecutive month, Minnesota outpaced the country in over-the-year job growth. Minnesota now has experienced seven years of over-the-year (unadjusted) employment expansion. Read more.
- Trade, transportation and utilities gained 3,200 jobs. Most of the gains were in Wholesale Trade (up 1,500) and Transportation, Warehousing, and Utilities (up 1,500), and a small bump in Retail Trade (up 200). Manufacturing was up 800 jobs.
- Leisure and hospitality lost 6,400 jobs. Arts, Entertainment, and Recreation (down 2,100) and Accommodation and Food Services (down 4,300) contributed to the seasonally adjusted loss.
- Education and health care was down 5,300 positions, with both Educational Services ( down 2,200) and Health Care and Social Assistance (down 3,100) recording losses.
Metropolitan Statistical Areas
Sizeable job gains for all Metropolitan Statistical Areas, in the past 12 months:
- Minneapolis-St. Paul MSA (up 2.3 percent)
- Duluth-Superior MSA (up 2.2 percent)
- Rochester MSA (up 1.2 percent)
- Cloud MSA (up 1.6 percent)
- Mankato MSA (up 2 percent)
Alternative Measures of Unemployment
Minnesota's official unemployment rate doesn’t tell the whole story. We can get a more complete picture by looking at alternative measures of unemployment, and by breaking down the rates by age, gender, and race. The numbers below – from the Current Population Survey – are averages over the past 12 months, and do not fully reflect recent trends.