Minnesota Cuts 7,500 Jobs in October, Unemployment at 6-Percent
ST. PAUL – Minnesota employers cut 7,500 jobs in October, according to figures released today by the Department of Employment and Economic Development (DEED).
The state’s unemployment rate edged up to a seasonally adjusted 6 percent in October. That compares with a U.S. rate of 6.5 percent after 240,000 jobs were lost nationwide during the month.
“The state and national economies continue to be tested by a broad slowdown that has hit many sectors,” said DEED Commissioner Dan McElroy. “Despite the challenging job market, financial activities as well as education and health services continue to post surprisingly strong employment numbers in Minnesota .”
McElroy encourages people who are seeking jobs to visit any of DEED’s 47 WorkForce Centers around the state, including 11 in the Twin Cities market. The centers offer a variety of free services, including computer terminals and other resources for job searches, and workshops on writing resumes and preparing for job interviews.
The state’s September employment figures were adjusted upwards by 1,500 jobs. Minnesota ’s over-the-year job growth stands at -0.6 percent, compared with the nation’s -0.8 percent.
Education and health services has added about 7,100 jobs in the past 12 months, up 1.6 percent, while financial activities gained 2,800 jobs, growing 1.5 percent. Government has gained 4,300 jobs, up 1 percent since October 2007. Other over-the-year employment figures are shown in Table 2 below.
During October, gains were posted in education and health services (up 1,700), leisure and hospitality (up 1,000) and government (up 700). Natural resources and mining was flat.
Losses during the month were found in trade, transportation and utilities (down 4,800), manufacturing (down 2,000), construction (down 1,900), professional and business services (down 1,100), other services (down 700), information (down 300) and financial activities (down 100).
In the state’s Metropolitan Statistical Areas, over-the-year gains were found in Rochester MSA (up 0.6 percent), Fargo-Moorhead MSA (up 1.1 percent) and Grand Forks MSA (up 1 percent). Losses were posted in the Minneapolis-St. Paul MSA (down 0.8 percent), Duluth-Superior MSA (down 0.9 percent) and St. Cloud MSA (down 0.3 percent).
Further information on the October employment figures and DEED WorkForce Centers is available at www.positivelyminnesota.com or at 1-888-GET-JOBS.