State and National Employment and Unemployment

Unemployment

The unemployment rate held at 3.4% in Minnesota in October, on a seasonally adjusted basis.

The number of unemployed workers increased to 105,856 people and the number of employed increased to 2,991,491. Minnesota's labor force grew to 3,097,347 total workers, and the labor force participation rate held at 67.7%.

The U.S. unemployment rate also held at 4.1% in October, on a seasonally adjusted basis. The U.S. labor force participation rate dropped one-tenth of a point to 62.6%.

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Monthly Employment

Minnesota’s monthly job change was mostly flat in October as the state lost 1,000 jobs, or 0.0%.

Six of eleven published supersectors posted positive growth. Manufacturing added 1,100 jobs, Information added 300 jobs, Financial Activities added 100 jobs, Education and Health Services added 1,300 jobs, Leisure and Hospitality added 1,100 jobs, and Other Services added 300 jobs.

Four published supersectors posted decreases. Construction lost 1,100 jobs; Trade, Transportation and Utilities lost 300 jobs; Professional and Business Services lost 3,100 jobs; and Government lost 700 jobs.

Similarly, U.S. total payroll employment was mostly flat in October, adding 12,000 jobs, or 0.0%. Private sector employers lost 28,000 jobs (0.0%) on a seasonally adjusted basis. Minnesota outperformed the nation in five supersectors.

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Annual Employment

Minnesota over the year (OTY) payroll employment growth stood at 33,257 jobs or 1.1%, lower than September’s 1.3% OTY growth rate. The private sector added 15,275 jobs, or 0.6% in October, which was slightly lower than September’s 0.7% rate.

U.S. total nonfarm over-the-year job growth stood at 1.3% in October, lower than September’s 1.5% rate. Private sector employment growth was at 1.2%, lower than September’s 1.4%.

Five of eleven published supersectors in Minnesota added jobs over the year. Annual job growth in Minnesota was the highest in Education and Health Services, which added 33,412 jobs (5.8%). Trade, Transportation and Utilities added 940 jobs (0.2%); Leisure and Hospitality added 4,500 jobs (1.7%); Other Services added 1,563 jobs (1.4%); and Government added 17,982 jobs (4.2%).

Six supersectors were down over the year. Mining and Logging lost 106 jobs (1.6%); Construction lost 2,196 jobs (1.5%), Manufacturing lost 4,020 jobs (1.2%), Information lost 1,777 jobs (4.1%), Financial Activities lost 2,139 jobs (1.1%); and Professional and Business Services lost 14,902 jobs (3.8%).

Four supersectors showed strength over the year in Minnesota compared to the nation. Education and Health Services was up 5.8% (vs 3.8%); Leisure and Hospitality was up 1.7% (vs 1.4%). Other Services was up 1.4% (vs 1.2%) and Government was up 4.2% (vs 2.0%).

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Monthly Employment Analysis Reports

2024
October
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August
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April
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2023
December
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October
September
August
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2022
December
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October
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2021
December
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October
September
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July
June
May
April
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2020
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