Minnesota unemployment rate drops to 3.7 percent; 6,600 jobs added in November

Minnesota employers added 6,600 more jobs in November, which brought the state’s seasonally-adjusted unemployment rate down to 3.7 percent.

That’s the lowest state rate since May, 2001. The national rate is now 5.8 percent.

The figures, released today by the state Department of Employment and Economic Development, show that the state has added 51,065 jobs in the past year, with 35,000 of those coming in the past four months.

DEED Commissioner Katie Clark Sieben said:

“The change in the unemployment rate from 4.5 percent in July to 3.7 percent in November is particularly notable given the labor force participation rate held steady during that period, on top of adding jobs to the economy.”

The monthly report shows some ups and downs, depending on industry:

Increases in November:

  • Leisure and hospitality, up 6,100
  • Financial activities up 3,100
  • Professional and business services, up 1,700
  • Government, up 1,700
  • Education and health services, up 1,300
  • Manufacturing, up 600
  • Logging and mining, up 200

Losing jobs in the month, though, were:

  • Construction, down 3,500
  • Trade, transportation and utilities, down 3,400
  • Other services, down 1,000
  • Information, down 200

And here’s a breakdown of job growth in the past 12 months, by region:

  • Mankato Metropolitan Service Area, up 3.6 percent
  • Minneapolis-St. Paul MSA, up 2.1 percent
  • St. Cloud MSA, up 1.3 percent
  • Rochester MSA, up 0.8 percent
  • Duluth-Superior MSA, down 0.2 percent

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