by Nick Dobbins
July 2024
Monthly analysis is based on seasonally adjusted employment data.
Yearly analysis is based on unadjusted employment data.
Total nonfarm employment was down by 3,200 or 0.1% over the month in June, on a seasonally adjusted basis. Goods producers lost 1,200 jobs (0.3%), and service providers lost 2,000 jobs (0.1%).
Over the year total nonfarm employment in the state was up 29,711 or 1%. Private sector employment was up 10,295 (0.4%), and public sector employment was up 19,416 (4.6%). Goods producers lost 10,828 jobs or 2.2%, but that loss was countered by the addition of 40,539 jobs (1.6%) among service providers.
Employment in Mining and Logging was up by 100 (1.5%) over the month in June. It was the highest proportional monthly growth of any supersector in the state. It was the first month of seasonally adjusted growth for Mining and Logging in 2024.
Over the year the supersector lost 26 jobs (0.4%). It was the first dip into negative annual growth since March of 2023.
Employment in Construction was up by 300 (0.2%) in June. It was the fourth consecutive month of growth for the supersector.
On an annual basis Construction employers lost 2,366 jobs (1.6%). The supersector has posted negative annual growth in five of six months of 2024. Every published component sector lost jobs over the year in June, with Specialty Trade Contractors down 1,852 (2%), Heavy and Civil Engineering Construction down 261 (1.1%), and Construction of Buildings down 253 (0.8%).
Manufacturing employers lost 1,600 jobs (0.5%) over the month in June, on a seasonally adjusted basis. Durable Goods Manufacturing lost 1,700 jobs (0.8%) while Non-Durable Goods Manufacturing added 100 jobs (0.1%).
Over the year the supersector lost 8,436 jobs (2.6%). Durable Goods Manufacturing was down 6,550 (3.1%) with notable declines in Machinery Manufacturing (down 1,234, or 3.4%) and Fabricated Metal Product Manufacturing (down 1,189 or 2.6%). Non-Durable Goods Manufacturers lost 1,886 jobs (1.6%) despite the addition of 73 jobs (0.2%) in Food Manufacturing, the only published major component sector.
Employment in Trade, Transportation, and Utilities was off by 600 (0.1%) in June. Retail Trade lost 2,300 jobs (0.8%) and Wholesale Trade lost 100 (0.1%), while Transportation, Warehousing, and Utilities added 1,800 jobs (1.6%).
Over the year employment in the supersector was off by 922 (0.2%). Wholesale Trade was down 391 (0.3%), and Retail Trade was down 968 (0.3%), with most of that loss coming from Building Material and Garden Equipment Dealers, which was off by 1,555 (5.2%). Transportation, Warehousing, and Utilities added 437 jobs (0.4%), with Utilities adding 321 jobs or 2.4%.
Employment in Information was flat in June, holding at a seasonally adjusted 42,500 jobs after adding 200 jobs (0.5%) in May.
Over the year Information employers lost 2,118 jobs (4.7%). This is the best over-the-year growth rate the supersector has posted in 2024, having reached as low as -5.8% in April.
Financial Activities employers lost 100 jobs (0.1%) in June, after adding a combined 2,000 jobs in April and May. Finance and Insurance added 100 jobs or 0.1%, while Real Estate and Rental and Leasing lost 200 jobs (0.6%).
On an annual basis the supersector lost 4,954 jobs, or 2.6%. Both component sectors were off by 2.6%, with Finance and Insurance losing 4,005 jobs and Real Estate and Rental and Leasing losing 949 jobs. Total over-the-year growth in Financial Activities has fallen between 2.2% and 2.9% in every month of 2024.
Employment in Professional and Business Services was off by 3,000 (0.8%) over the month in June. The largest component sector, Professional, Scientific, and Technical Services, added 2,400 jobs (1.5%). That growth was countered by losses in the other two components, with Administration and Support and Waste Management and Remediation Services in particular shedding 4,600 jobs or 3.9%.
Over the year Professional and Business Services employers lost 19,240 jobs (4.9%). Administrative and Support and Waste Management lost 15,030 jobs (11.3%), caused in large part by the loss of 8,402 jobs or 15.2% in Employment Services. Management of Companies lost 5,196 jobs (5.7%), and Professional, Scientific, and Technical Services added 986 jobs (0.6%).
Educational and Health Services employment was up 4,500 or 0.8% in June. This was the largest real job growth of any supersector in the state. Both components grew by 0.8%, with Educational Services up 600 jobs and Health Care and Social Assistance up 3,900.
Over the year Educational and Health Services employers added 39,265 jobs or 7.1%. It was the largest real and component growth of any supersector in the state, and the highest over-the-year growth rate for the supersector since April of 2021. Educational Services added 6,795 jobs (10.6%) while Health Care and Social Assistance added 32,470 (6.6%), with Nursing Care Facilities up 8.4% (3,065 jobs) and Ambulatory Health Care Services up 7.5% (12,106 jobs).
Leisure and Hospitality employers shed 2,100 jobs (0.6%) over the month in June. Arts, Entertainment, and Recreation drove the declines, losing 2,000 jobs or 4.1%. Employment in the much larger Accommodation and Food Services sector was mostly flat, off by 100 jobs or 0.0%.
Over the year, the supersector added 7,042 jobs, or 2.5%. Losses in Arts, Entertainment, and Recreation (down 1,926 or 3.5%) were more than offset by gains in Accommodation and Food Services (up 8,968 or 3.9%). The largest growth came in Full Service Restaurants, which added 5,251 jobs or 5.7%.
Employment in Other Services was down 800 (0.7%) in June. The supersector has posted flat or negative seasonally adjusted growth in each of the last four months, after adding 1,000 jobs in February.
Over the year Other Services employment was up 2,050 (1.8%). All three component sectors added jobs, with Personal and Laundry Services up 722 (2.6%), Religious, Grantmaking, Civic, and Professional Organizations up 1,271 (2%), and Repair and Maintenance up 57 (0.2%).
Government employers added 100 jobs (0.0%) over the month in June. The growth came entirely from State Government, which added 1,300 jobs (1.3%). Local Government employers lost 1,100 jobs (0.4%), and Federal Government lost 100 jobs (0.3%).
Over the year Government employers added 19,416 jobs or 4.6%, which was the second-largest real and proportional growth of any supersector, trailing only Educational and Health Services. All three levels of Government added jobs, with the Local Government level providing the most growth, up 14,813 or 5%. Local Non-Education employment was up 10,027 (6.6%) while Local Education employment was up 4,786 (3.3%).
| Minnesota Seasonally Adjusted Nonagricultural Wage and Salary Employment (In Thousands) | |||
|---|---|---|---|
| Industry | Jun-24 | May-24 | Apr-24 |
| Total Nonfarm | 3015.2 | 3018.4 | 3024.7 |
| Goods-Producing | 461.4 | 462.6 | 467.1 |
| Mining and Logging | 6.6 | 6.5 | 6.6 |
| Construction | 135.6 | 135.3 | 135.2 |
| Manufacturing | 319.2 | 320.8 | 325.3 |
| Service-Providing | 2553.8 | 2555.8 | 2557.6 |
| Trade, Transportation, and Utilities | 533.4 | 534 | 536 |
| Information | 42.5 | 42.5 | 42.3 |
| Financial Activities | 187.1 | 187.2 | 186.1 |
| Professional and Business Services | 367.7 | 370.7 | 377.8 |
| Educational and Health Services | 596.7 | 592.2 | 589.3 |
| Leisure and Hospitality | 273.5 | 275.6 | 273.8 |
| Other Services | 114.9 | 115.7 | 115.7 |
| Government | 438 | 437.9 | 436.6 |
| Source: Department of Employment and Economic Development, Current Employment Statistics, 2024. | |||
