Minnesota officials don’t seem overly concerned about a drop in the state jobs numbers in July; the jobs total was down 4,200, according to seasonally adjusted numbers.
The unemployment rate stayed steady at 4.5 percent. The U.S. unemployment rate was 6.2 percent.
State officials also lowered the June jobs numbers, lopping off 3,600 from the 8,500 previously reported gain. Still, they say the state has gained more than 68,000 jobs in the past 12 months.
A statement from the Department of Employment and Economic Developments says the July drop was not unexpected:
Every year, July has a drop in the number of jobs on a seasonally unadjusted basis. According to DEED officials, recent divergences due to seasonal adjustment lessen confidence that Minnesota’s seasonally adjusted estimates are accurately reflecting recent trends in job growth.
DEED Commissioner Katie Clark Sieben said: “July’s employment change appears disappointing, however, this is the smallest percentage decline in jobs for a July since 1999. Minnesota’s economic indicators remain positive, and underlying employment data continue to look strong.”
Job cuts in private education were particularly high last month.