Slight Increase in Minnesota’s Unemployment Rate
St Paul, MN (KROC AM News) - There was a fractional increase in Minnesota’s unemployment rate in July.
The Minnesota Department of Employment and Economic Development (DEED) reports a one-tenth rise in the monthly unemployment rate from June. The July rate of 4 percent was two-tenths higher than it was in the same month a year ago.
DEED says employers cut 3900 jobs in July. The loss was offset in part by a revised report for June that showed an additional gain of 2700 jobs. The department says Minnesota has gained nearly 48,000 jobs over the past 12 months for a growth rate of 1.5 percent.
The department says the Rochester job market had a measly gain of only a tenth of a percent during the past 12 months, the lowest of all the major cities in the state.
Government led all sectors in July with 2,700 new jobs. Professional and business services added 1,400 jobs, financial activities gained 500 jobs, logging and mining added 300 jobs, and information added 100 jobs.
Sectors losing jobs were leisure and hospitality (down 3,700), construction (down 2,000), trade, transportation and utilities (down 1,700), education and health services (down 1,200), manufacturing (down 300) and other services (down 100).
In the past year, education and health services has gained 14,356 jobs. Other sectors that have added jobs since July 2014 are professional and business services (up 10,100), leisure and hospitality (up 8,381), trade, transportation and utilities (up 7,232), manufacturing (up 3,074), financial activities (up 2,240), construction (up 724) and government (up 51).
The following sectors have lost jobs in the past year: other services (down 1,056), logging and mining (down 893), and information (down 490).
In the Metropolitan Statistical Areas, the following regions gained jobs in the past 12 months: Minneapolis-St. Paul MSA (up 2.1 percent), Duluth-Superior MSA (up 1.3 percent), Mankato MSA (up 1 percent), St. Cloud MSA (up 0.4 percent) and Rochester MSA (up 0.1 percent).