Minnesota gains 4,200 jobs in September, unemployment at 2%
Minnesota’s September unemployment rate remained low at 2%, up one-tenth of a point from August and compared with a national rate of 3.5%.
ST. PAUL -- Minnesota gained a net 4,200 jobs in September, up 0.1% from August, the state Department of Employment and Economic Development said Thursday. The private sector led the hiring, with 8,500 jobs gained.
Minnesota’s September unemployment rate remained low at 2%, up one-tenth of a point from August and compared with a national rate of 3.5%. Minnesota’s labor force participation rate ticked down one-tenth of a point to 68.1%, compared with the national rate of 62.3%; this measures the percentage of the state population that is working or actively looking for work and is used to calculate the main unemployment rate.
The state’s job growth in September follows the revised addition of 1,200 jobs in August, up from a previously reported loss of 3,100 jobs. Private sector job growth in the state was up 0.3%, month-to-month. Government lost 4,300 jobs, down 1%.
The U.S. gained 578,000 jobs in September, up 0.4% from August, with the private sector adding 563,000 jobs, up 0.4% on a seasonally adjusted basis. Minnesota employment has grown 2.4% since January 2022 while the U.S. has grown 2.2%, DEED said. For 12 straight months, Minnesota has gained jobs.
“Our nation-leading unemployment rate continues to reveal a market full of opportunity — we’re committed to driving innovative approaches to help Minnesota businesses find the workers they need,” said DEED Commissioner Steve Grove in a news release.
Wages grew even faster in Minnesota in September than in August, up 5.7% overall, though still slower than inflation, with the consumer price index at 8.2% year-on-year in September.
Looking at the state’s alternative measures of unemployment, the broadest measure, called the U6, was 4.9% in September. This includes in its count workers who are involuntarily part time and people who have stopped actively seeking work.
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