MN unemployment jumps in July
Minnesota employers cut 8,600 jobs in July, according to figures released today by the Minnesota Department of Employment and Economic Development.
The state has lost about 900 jobs (down 0.03 percent) over the past year, compared with a U.S. loss of 174,000 jobs (down 0.13 percent). Minnesota has added 112,900 jobs (up 4.25 percent) since January 2004.
The state's seasonally adjusted unemployment rate stood at 5.8 percent for the month, while the U.S. rate was 5.7 percent.
"Segments of the state economy are being tested by the nation's economic slowdown, including construction and other industries heavily exposed to the housing market," said DEED Commissioner Dan McElroy. "But there are pockets of growth in Minnesota, such as medical device manufacturing, Education and Health Care, and Financial Activities sectors."
Education and Health Care gained 2,500 positions, followed by Trade, Transportation and Utilities (up 1,000), Information (up 600), Financial Activities (up 600), and Natural Resources and Mining (up 100).
Job losses in July were posted by Government (down 4,200), Construction (down 3,400), Manufacturing (down 2,600), Leisure and Hospitality (down 1,700), Professional and Business Services (down 1,100), and Other Services (down 400).
Over the past year, the strongest sectors in the state were Education and Health Services (up 7,900 jobs), Government (up 5,200), Financial Activities (up 1,200), Trade, Transportation and Utilities (up 900), and Leisure and Hospitality (up 400).
The state has lost jobs since July 2007 in Manufacturing (down 7,800), Construction (down 5,400), Professional and Business Services (down 1,900), Other Services (down 1,200), Information (down 100), and Natural Resources and Mining (down 60).
Employment in the Minneapolis-St. Paul Metropolitan Statistical Area has grown 0.1 percent in the past year with the addition of 900 jobs.
In other regions over the past year, Duluth-Superior grew 1.0 percent with 1,300 additional jobs, Rochester grew 1.0 percent with 1,100 jobs, St. Cloud grew 0.7 percent with 700 jobs, Fargo-Moorhead increased 1.2 percent with 1,400 jobs and Grand Forks grew by 1.7 percent with 900 jobs.
For additional information on the July employment information, please visit www.positivelyminnesota.com