Minnesota's Unemployment Rate Drops To Lowest Level Since 2000

Minnesota’s overall unemployment rate fell to 3.1 percent in November, the lowest level since July 2000, according to seasonally adjusted figures released Thursday by the Minnesota Department of Employment and Economic Development (DEED). The national unemployment rate was 4.1 percent in November.

State employers eliminated 4,000 jobs in November on a seasonally adjusted basis, while October’s figures were revised from 4,500 jobs lost to 2,400 jobs lost. The state has added 34,566 jobs over the past year, an increase of 1.2 percent. Jobs grew 1.4 percent nationally in the past 12 months, according to a news release.

Trade, transportation and utilities led all sectors in November with 2,300 new jobs. Other industries adding jobs were construction (up 1,800), professional and business services (up 1,800), financial activities (up 500), education and health services (up 500) and logging and mining (up 100).

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The following sectors lost jobs:

• Leisure and hospitality (down 7,500)
• Other services (down 1,500)
• Manufacturing (down 700)
• Information (down 700)
• Government (down 600)

Over the past year, eight of 11 sectors have added jobs. Education and health services (up 11,435) was followed by trade, transportation and utilities (up 7,002), professional and business services (up 5,993), construction (up 5,384), other services (up 4,466), manufacturing (up 3,056), logging and mining (up 684) and government (up 578).

The following industries lost jobs in the past year: leisure and hospitality (down 2,270), information (down 1,027) and financial activities (down 735).

In the Metropolitan Statistical Areas, all regions gained jobs in the past 12 months: Minneapolis-St. Paul MSA (up 2.1 percent), Duluth-Superior MSA (up 1.5 percent), Rochester MSA (up 0.3 percent), St. Cloud MSA (up 1.7 percent) and Mankato MSA (up 1.9 percent).

Photo credit: AP Photo/Mark Lennihan