Minnesota’s job market took a step backward in September.
Commissioner Matt Varilek says that new figures from the Department of Employment and Economic Development show the state lost 4,600 non-farm jobs, while the unemployment rate edged up to four-point-five percent…
“At a high level, I would say the September labor market numbers continue to indicate a mixed economic picture for Minnesota. On the positive side, a several months-long downward trend in the size of the state’s labor force is now showing initial signs of reversal.”
Varilek says despite September’s job losses, Minnesota continues to outperform the nation in year-over-year employment growth…
“While the monthly numbers fluctuate, as we often say, our steady over-the-year job growth shows continuing resilience of our diverse economy. Over that 12-month time frame, growth for all nonfarm jobs in Minnesota was 1.2%, and for the private sector specifically, it was 1.3%.”
The state’s labor force grew by 843 people last month, reversing a recent decline. Manufacturing led job gains among several industry sectors. However, the state lost 4,600 jobs in September, and unemployment rose to 4.5%, which was slightly above the national rate of 4.2%.
(content: courtesy MNN)
