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Saturday, October 25th, 2014
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Employment makes solid gains in March


Fri, Apr 25th, 2014
Posted in All State of Minnesota

Minnesota employment rebounded with solid growth in March after a slow start to the year that might have been related to the state’s worst winter in three decades.

DEED announced today that Minnesota added 2,600 jobs in March, while the unemployment rate held steady at a seasonally adjusted 4.8 percent. The state jobless rate remains well below the U.S. rate of 6.7 percent. And while the country as a whole still hasn’t recovered all the jobs that disappeared in the recession, Minnesota is now 33,000 jobs above what the state lost in the downturn.

Another milestone this month: The state labor force crossed the 3 million mark for the first time in history.

“This month’s data raises expectations that we were the victims of the Polar Vortex and that we’ll be back on a more robust trajectory as we enter the spring and summer months,” said Steve Hine, who heads DEED’s Labor Market Information Office.

Construction remains one of the bright spots of the state labor market. The sector has added nearly 9,200 jobs in the past year, posting an impressive11.1 percent growth rate that dwarfs the national growth rate in that industry of 2.9 percent.

Here are some other highlights from today’s report:

•Manufacturing added jobs for the sixth consecutive month in March. The sector has grown by nearly 6,200 jobs in the past year and is expanding at nearly triple the national pace.

•The state’s labor force participation rate continues to climb, growing 0.1 percent in March to 70.6 percent.

•Ten of the state’s 11 major industrial sectors have more jobs than a year ago. The only sector that hasn’t added jobs in the past year is financial activities, which is down about 640 positions.

You can read more details about March employment on the DEED website.

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