In the month of November, employers in the state of Minnesota added over 10,800 jobs as the unemployment rate in the state dropped to 5.7 percent, according to data released by the Minnesota Department of Employment and Economic Development, according to Twin Cities Business.
During the course of the month, the unemployment rate dropped by 0.2 percent. The rate for October rose from 5.8 percent to 5.9 percent after an adjustment. In October, an original estimate said that 8,100 jobs were cut, but that number was edited down to just 4,800 jobs cut.
The Department of Employment and Economic Development Commissioner, Katie Clark Sieben, released a statement that said the labor market in Minnesota “continues to make progress, having recovered more than 100,000 jobs since September 2009. The state has regained jobs at a pace well ahead of the nation during that period.”
According to Steve Hine, the research director for the department’s labor market information office, said during a conference call on Thursday that the labor market in the state is on “much firmer footing.” He noted that the state has gained 64.5 percent of the jobs that were lost during the recession. Over the past year, Minnesota has added 55,200 jobs, which is a rate of growth of 2.1 percent. That beats out the 1.4 percent rate of growth for the country during the same time frame.
In November, the trade, transportation and utilities sector added 5,200 jobs, which was the most of any industry. Hine said that the growth can be attributed to retail hiring, which has been fueled by strong sales during the holidays. In November, the state added 9,300 retail jobs on a non-seasonally adjusted basis. This was the state’s largest gain in at least a decade, according to Hine.
Education and health services added 3,800 jobs; leisure and hospitality added 3,200 jobs; other services added 1,500 jobs; construction added 1,300 jobs and manufacturing added 800 jobs in the month of November. There were sectors in November that lost jobs. Those sectors include professional and business services (1,900 jobs lost); information (1,300 jobs lost); government (1,300 jobs lost); financial activities (400 jobs lost) and mining and logging (100 jobs lost).
Hine noted that the jobs report for November was ‘a relief,’ but also said that there are indicators that suggest that Minnesota could witness ‘some flattening of our rate of growth.’ Hine said that adjusted new claims for unemployment insurance increased in November and online job postings decreased by 1,500 in November.
When it comes to year-over-year statistics, the education and health services industry has added 23,300 jobs, which is the greatest increase out of all the industries.