by Nick Dobbins
June 2024
Monthly analysis is based on seasonally adjusted employment data.
Yearly analysis is based on unadjusted employment data.
Employment in Minnesota was down 8,600 (0.3%) over the month in May, on a seasonally adjusted basis. Goods producers lost 3,700 jobs (0.8%), and service providers lost 4,900 (0.2%). Seven of 11 published supersectors added jobs on the month.
Over the year Minnesota employers added 34,950 jobs (1.2%). Private sector employers added 12,079 jobs (0.5%), and public sector employers added 22,871 jobs (5.4%). Five of 11 supersectors posted positive annual growth.
Employment in Mining and Logging was off by 100 (1.5%) over the month of May, on a seasonally adjusted basis. Employment has declined or remained flat in every month of 2024 so far and is down to 6,500 after starting the year at 6,900.
Over the year employers in Mining and Logging added 22 jobs (0.3%). This was down from April when annual growth was at 2.9% and has declined in every month of 2024.
Construction employers added 100 jobs (0.1%) over the month in May. This marked three consecutive months of seasonally adjusted growth for the supersector.
On an annual basis, employment in Construction was down by 1,234 (0.9%), after jumping briefly into positive over-the-year growth in April. Heavy and Civil Engineering Construction was the only component sector to add jobs on the year, up 665 or 3.2%. Specialty Trade Contractors lost 1,697 jobs (1.9%), and Construction of Buildings was off by 202 (0.7%).
Employment in Manufacturing was down by 3,700 (1.1%) in May, after adding 1,100 jobs in April. Both component sectors lost jobs on the month, with Durable Goods off by 2,200 (1.1%) and Non-Durable Goods off by 1,500 (1.3%).
Over the year Manufacturing employers lost 4,517 jobs or 1.4%. Durable Goods manufacturers lost 3,652 jobs (1.7%), with Machinery Manufacturing down 705 (1.9%). Their counterparts in Non-Durable Goods manufacturing lost 865 (0.8%) despite the addition of 944 jobs (2%) in Food Manufacturing.
Trade, Transportation, and Utilities employment was down by 1,600 (0.3%) over the month in May, with losses in all three component sectors. Wholesale Trade was down 600 (0.4%), Retail Trade was down 200 (0.1%), and Transportation, Warehousing, and Utilities was down 800 (0.7%). Employment in the supersector has been down or flat in each of the last four months.
Over the year Trade, Transportation, and Utilities employment was off by 759 (0.1%). Retail Trade added 1,466 jobs (0.5%), and Wholesale was up 62 (0.0%), but Transportation, Warehousing, and Utilities was down by 2,287 (2%). Utilities employment was up (348 or 2.7%), but Transportation and Warehousing employers lost 2,635 jobs (2.6%).
Employment in Information was up by 100 (0.2%) in May after losing jobs in each of the last two months.
Over the year Information employers lost 2,203 jobs or 4.9%. This was the largest proportional annual job loss of any supersector in the state. Both published component sectors lost jobs, with Publishing down 657 (3.4%) and Telecommunications down 351 (3.9%).
Financial Activities employers added 800 jobs (0.4%) over the month in May. Both component sectors added 400 jobs, with Finance and Insurance up 0.3% and Real Estate and Rental and Leasing up 1.1%.
On an annual basis the supersector lost 4,386 jobs or 2.3%. This was an improvement over April's 2.5% over-the-year loss, and the lowest decline the supersector has had in 2024. Finance and Insurance lost 4,257 jobs (2.7%), while Real Estate and Rental and Leasing lost 129 jobs (0.4%).
Employment in Professional and Business Services was down by 9,300 (2.5%) OTM in May. This was the largest real and proportional decline of any supersector in the state. Administrative and Support and Waste Management and Remediation Services drove the declines, losing 8,100 jobs or 6.4%. Professional, Scientific, and Technical Services was down 1,400 (0.8%) while Management of Companies was up by 200 (0.2%).
Over the year the supersector lost 16,308 jobs or 4.2%. All three component sectors posted negative growth, with the largest real declines coming in Administrative and Support and Waste Management and Remediation Services, which was down 10,000 or 7.8%. Component Employment Services lost 7,077 jobs or 12.3%, which was a slight improvement over April.
Educational and Health Services employers added 2,800 jobs (0.5%) over the month in May, the largest real and proportional monthly growth of any supersector in the state. The supersector has added jobs in every month of 2024, and has not posted negative monthly growth since June of 2022. Health Care and Social Assistance was up 2,500 (0.5%) in May, and Educational Services was up 300 (0.4%).
Over the year employment in the supersector was up by 31,270 jobs or 5.6%, the largest real and proportional annual growth in the state. Most of the May growth came in Health Care and Social Assistance, which was up 30,009 (6.1%). Educational Services added 1,261 jobs or 1.7%.
Employment in Leisure and Hospitality was up 900 (0.3%) in May, the third consecutive month of growth for the supersector. Arts, Entertainment and Recreation added 800 jobs (1.7%), and Accommodation and Food Services added 100 jobs (0.0%).
On an annual basis, Leisure and Hospitality employers added 7,161 (2.6%), which was down from April's 3.4% over-the-year growth. Accommodation and Food Services was up 6,550 (2.9%) while Arts, Entertainment and Recreation was up 611 (1.2%).
Other Services employers added 200 jobs (0.2%) over the month in May, after losing 700 jobs in April. So far in 2024, the supersector has added 400 seasonally adjusted jobs.
Over the year Other Services added 3,033 jobs (2.7%), with all three component sectors posting positive growth. Personal and Laundry Services and Religious, Grantmaking, Civic, and Professional Organizations were both up 2.9% (790 and 1,828 jobs, respectively), while Repair and Maintenance employers added 415 jobs (1.7%).
Government employers added 1,200 jobs (0.3%) in May and has posted positive growth in four of five months of 2024 so far. Local Government employers added 1,800 jobs (0.6%), and Federal employers added 100 (0.3%), while State Government employers lost 700 jobs (0.7%).
Over the year Government employers added 22,871 jobs or 5.4%. This was an improvement over April's 5% over-the-year growth. All three levels of Government added jobs in May. Federal employment was up 801 (2.5%), State was up 3,764 (3.7%), and Local was up 18,306 (6.3%).
| Minnesota Seasonally Adjusted Nonagricultural Wage and Salary Employment (In Thousands) | |||
|---|---|---|---|
| Industry | May-24 | Apr-24 | Mar-24 |
| Total Nonfarm | 3016.1 | 3024.7 | 3020 |
| Goods-Producing | 463.4 | 467.1 | 464.8 |
| Mining and Logging | 6.5 | 6.6 | 6.7 |
| Construction | 135.3 | 135.2 | 133.9 |
| Manufacturing | 321.6 | 325.3 | 324.2 |
| Service-Providing | 2552.7 | 2557.6 | 2555.2 |
| Trade, Transportation, and Utilities | 534.4 | 536 | 536.2 |
| Information | 42.4 | 42.3 | 42.7 |
| Financial Activities | 186.9 | 186.1 | 185.2 |
| Professional and Business Services | 368.5 | 377.8 | 379 |
| Educational and Health Services | 592.1 | 589.3 | 584.4 |
| Leisure and Hospitality | 274.7 | 273.8 | 273.3 |
| Other Services | 115.9 | 115.7 | 116.4 |
| Government | 437.8 | 436.6 | 438 |
| Source: Department of Employment and Economic Development, Current Employment Statistics, 2024. | |||
