Unemployment Rate Falls to 3.7 Percent in May
Thursday, June 15, 2017
Minnesota employers eliminate 7,200 jobs.
ST. PAUL – Minnesota’s unemployment rate fell to 3.7 percent in May, matching a post-recession low point last seen in June 2015, according to seasonally adjusted figures released today by the Minnesota Department of Employment and Economic Development (DEED). The U.S. unemployment rate in May was 4.3 percent.
Minnesota employers eliminated 7,200 jobs in May, after adding 28,200 jobs in the previous three months. Over the past year, the state has added 48,068 jobs, a gain of 1.7 percent. Jobs nationally are up 1.5 percent over the past year.
“Minnesota is outpacing the nation in job growth, with all 11 major industrial sectors seeing gains over the past year,” said DEED Commissioner Shawntera Hardy. “These and other indicators point to continued strength in the state labor market.”
Other services led all sectors last month with 2,100 new jobs, following by manufacturing (up 800) and logging and mining (up 100). Leisure and hospitality held steady.
The following industries lost jobs in May: government (down 2,600), construction (down 2,600), professional and business services (down 2,100), trade, transportation and utilities (down 1,900), financial activities (down 500), information (down 400) and education and health services (down 100).