According to data released today by the Minnesota Department of Employment and Economic Development (DEED) the seasonally adjusted unemployment rate held at 3.2% in October. The national seasonally adjusted unemployment rate for October increased to 3.6%.
Minnesota added 7,400 jobs in the month of October. Meanwhile, September’s employment growth was revised up to 1,600 jobs.
“There continues to be a high demand for workers in the state,” said DEED Commissioner Steve Grove. “While this is good news for workers, it means we need to do more to ensure Minnesota businesses have the employees they need to thrive, and that we are helping Minnesota workers prepare for in-demand occupations.”
The state’s labor force participation rate rose a tenth of a percent to 70.3% and the employment-to-population ratio increased to 68%, the highest it has been since 2008.
Over the month, five industry sectors gained jobs. Leisure and hospitality gained the most (up 4,900) followed by trade, transportation and utilities (up 2,500), manufacturing (up 1,300), construction (up 800) and government (up 200).
Sectors losing jobs over the month include information and financial activities, both down 1,000 jobs.
Over the month the Minneapolis-St. Paul Metropolitan Statistical Area (MSA) was the only MSA in the state to lose jobs (down 908). Rochester added the most jobs in October (up 1,268).
DEED is the state’s principal economic development agency, promoting business recruitment, expansion and retention, workforce development, international trade and community development. For more information about the agency and its services visit https://mn.gov/deed/.