Minnesota’s seasonally adjusted unemployment rate held at 2.8 percent in November for the third month in a row. The state’s unemployment rate remains the lowest since May 1999 and three tenths of a point above the all-time low of 2.5 percent (January and February, 1999).

October’s gain of 3,400 jobs was reduced to 2,500 after revision.

Details:

• Across the eleven major sectors of our economy, five gained jobs during November, five shed jobs, and construction held steady. Gains were led by leisure & hospitality (up 1,500), professional & business services (up 1,500), trade, transportation & utilities (up 200), financial activities (up 200), and manufacturing (up 100). Losses: education & health care (down 2,700), other services (down 1,000), government (down 400), logging & mining (down 100) and information (down 100).

• For the first time on record (1991), annual job growth in education and health care turned negative with a decline of 2,091 jobs since last November, joining logging & mining and other services sectors that are off from a year ago. Despite lagging the US in total annual employment growth, Minnesota outpaces the nation in six of the 11 major sectors, with construction and leisure & hospitality as standout strengths.

• The private sector average wage rate fell by 23 cents to $29.13, but despite the decline, the annual growth in the wage rate held steady at 2.1%. The private sector average work week edged up, from 33.6 to 33.8 hours, but this is still well below the 34+ hour work weeks in previous Novembers.

Using unofficial data from the Current Population Survey, black unemployment decreased to 5.1 percent in November from 5.4 percent in October, for a 2.9 percentage point decrease over-the-year. This remains among the lowest rates on record dating back to December 2001; however, the black unemployment rate continues to be higher than the white unemployment rate at 2.6 percent. While the Minnesota economy is running close to full potential, there’s room for improvement given the workforce breakouts by racial groups. The Hispanic unemployment rate decreased to 4.9 percent in November, down from 5.0 percent in October, and decreased by 0.1 percentage points over-the-year. Important to remember: Sample sizes are small, and calculated unemployment rates for black and Hispanic individuals are susceptible to error.

Here are the numbers.

Metropolitan Statistical Areas

Four regions gained jobs over the past 12 months:

• Minneapolis-St. Paul MSA (up 1.8 percent)
• Duluth-Superior MSA (up 1.5 percent)
• Rochester MSA (down 0.5 percent)
• Cloud MSA (up 1.2 percent)
• Mankato MSA (up 2.6 percent)

Statistical Snapshot

Here is the economic snapshot for November. Highlights:

• 1-year growth in employment was 1 percent, ranking 38th nationwide. (US, 1.6 percent)
• Minnesota’s job creation since January 2011 was 316,700 or an 9 percent increase. (National growth rate, 14.5 percent)
• Minnesota’s labor force participation rate was 8 percent, ranking second highest nationwide. (US, 62.9 percent)
• Minnesota’s percent of long-term unemployment (>27 weeks) was 14.4 (US, 20.8 percent)
• The unemployment rate was 2.8 percent, seasonally adjusted, the sixth lowest (US rate, 3.7 percent)
• Minnesota’s percentage of people below the poverty line was 5 percent in 2017, the third lowest nationwide. (US rate, 13.4 percent)
• Minnesota’s estimated population in 2018 was 5.6 million, ranking 18th

State Exports Grow 6.5 Percent in Third QTR

Sales of Minnesota agricultural, mining and manufactured exports grew 6.5 percent to $5.7 billion in the third quarter of 2018. Minnesota represents the 19th largest gain in exports nationwide for this period. US exports as a whole were up 8.1 percent during the same period.

Demand in Asia and Europe drove export growth in regional markets. Exports to Asia grew 13 percent to $2.1 billion, and exports to Europe grew 9 percent to $1.2 billion.

“Many of the state’s core industries continue to experience strong export growth. Minnesota businesses are also succeeding at making inroads into newer emerging markets,” said DEED Commissioner Shawntera Hardy. For more.

New Privacy and Data Security Guide Now Available

“A Legal Guide to Privacy and Data Security 2019,” published cooperatively by DEED and Minneapolis law firm Gray Plant Mooty, is now available. This free privacy guide is intended to inform businesses of legal issues related to privacy and data security. Noteworthy in the new edition is the California Consumer Privacy Act, which will affect any business that collects personal information of California residents. How to order.