(The Center Square) – Minnesota gained 10,200 jobs in the last month, the state’s Department of Employment and Economic Development reported Thursday.
The seasonally adjusted numbers, up from an addition of 2,500 in December 2021, is the largest single-month growth since July 2021, the news release said. The private sector gained 9,100 jobs, up 0.4%. Jobs have increased for four straight months.
The unemployment rate decreased from 3.0% in December 2021 to 2.9% in January, which the department said was wholly due to people moving from unemployment to employment. The labor force participation rate rose from 67.3% in December to 67.6% in January.
Nationwide, unemployment increased one-tenth of a percentage point, to 4.0%, and the labor force participation rate increased three-tenths of a percentage point, to 62.2%.
“Today’s job numbers show great momentum at a critical time in our economy,” said DEED Commissioner Steve Grove. “And a jump in labor force participation shows that efforts to connect job seekers with great jobs are succeeding. We remain laser-focused on helping businesses and workers connect at a time of historically large workforce shortages across every industry.”
Seasonally adjusted, professional and business services gained 3,600 jobs, leisure and hospitality gained 1,800 jobs, and manufacturing gained 1,600 jobs. Financial activities gained 1,200 jobs while other services gained 1,200 jobs and government increased by 1,100 jobs. Education and health services experienced an uptick of 900 jobs. Information gained 600 jobs and mining and logging gained 100 jobs.
Construction lost 1,400 jobs and trade, transportation, and utilities lost 500 jobs.
In the last year, the state has gained 74,111 jobs (2.7% increase). Nearly 70,000 were in the private sector. Nonfarm employment is 122,181 jobs short of January 2020 employment, including a decrease of 96,760 private sector jobs.
Over the year, financial activities experienced the greatest decline (0.9%), followed by trade, transportation and utilities (0.6%).
Leisure and hospitality gained nearly 50,000 jobs (26.7% increase) and other services gained nearly 9,000 jobs (8.9%).
Mining and logging, manufacturing, leisure and hospitality, and other services were stronger in Minnesota over the past year compared with the overall U.S.
During the first months of the COVID-19 pandemic (February through April 2020), Minnesota lost 417,600 jobs. It’s gained 296,800 as of last month, or 71% of the jobs lost (75% in the private sector).
“Many Minnesotans continue to be out of work, but the employment impact of the pandemic on workers has been difficult to measure,” the release said. “The pandemic caused some people to drop out of the workforce, lowering labor force participation, which resulted in an unemployment rate below what would be expected given job losses.”
Adjusted Unemployment Rate, based on 12-month moving averages – January 2022
|
Month/Year |
Total |
Black |
Hispanic |
White |
|
Jan-22 |
5.7% |
9.9% |
2.3% |
5.0% |
|
Dec-21 |
6.2% |
11.1% |
2.7% |
5.4% |
|
Jan-21 |
7.1% |
16.1% |
7.2% |
6.3% |
Minnesota and U.S. Employment and Unemployment – January 2022
|
Seasonally Adjusted |
Not Seasonally Adjusted |
|||
|
Unemployment Rate |
Jan. 2022 |
Dec. 2021 |
Jan. 2022 |
Jan. 2021 |
|
Minnesota |
2.9% |
3.0% |
3.4% |
2.6% |
|
U.S. |
4.0% |
3.9% |
4.4% |
3.7% |
|
Non-Farm Jobs |
Jan. 2022 |
Dec. 2021 |
Jan. ’21- Jan. ’22 Level Change |
Jan. ’21- Jan.’22 % Change |
|
Minnesota |
2,874,700 |
2,864,500 |
74,111 |
2.7% |
|
U.S. |
149,721,000 |
149,240,000 |
6,530,000 |
4.6% |
Minnesota and U.S. Over-the-Year (OTY) Employment Change, Not Seasonally Adjusted: January 2021 – January 2022
|
Industry Supersector |
OTY Job Change |
OTY Growth Rate (%) |
U.S. OTY Growth Rate (%) |
|
Total |
74,111 |
2.7 |
4.6 |
|
Private |
69,309 |
2.9 |
5.0 |
|
Mining & Logging |
299 |
-0.1 |
-2.0 |
|
Construction |
-75 |
-0.1 |
1.8 |
|
Manufacturing |
9,369 |
3.1 |
2.8 |
|
Trade, Transport. & Utilities |
-3,185 |
-0.6 |
4.9 |
|
Information |
1,276 |
3.1 |
8.9 |
|
Financial Activities |
-1,781 |
-0.9 |
-0.8 |
|
Prof. & Business Services |
8,141 |
2.2 |
6.1 |
|
Ed. & Health Services |
-2,194 |
-0.4 |
2.8 |
|
Leisure & Hospitality |
48,544 |
26.7 |
15.0 |
|
Other Services |
8,915 |
8.9 |
2.0 |
|
Government |
4,802 |
1.2 |
2.7 |
Metropolitan Statistical Area (MSA) Over-the-Year (OTY) Employment Change, Not Seasonally Adjusted: January 2021 – January 2022
|
Metropolitan Statistical Area |
OTY Employment Change |
OTY Employment Change (%) |
|
Minneapolis-St. Paul MN-WI MSA |
46,731 |
2.7 |
|
Duluth-Superior MN-WI MSA |
4,394 |
3.5 |
|
Rochester MSA |
4,131 |
3.5 |
|
St. Cloud MSA |
3,645 |
3.6 |
|
Mankato MSA |
967 |
1.8 |
