State adds jobs for 6th straight month
News | Published on January 22, 2024 at 12:27pm CST
Minnesota gained 800 jobs from November to December on a seasonally adjusted basis according to numbers released today by the Minnesota Department of Employment and Economic Development (DEED). This is the sixth straight month of job growth in the state. Minnesota’s private sector gained 2,500 jobs over the month, up 0.1%, while Government lost 1,700 jobs.
“Continued job growth is great news – and sharing the story of employment opportunities will help us bring more people into the state’s labor force,” said DEED Deputy Commissioner Kevin McKinnon. “Our tight labor market is creating ongoing challenges for employers – but it also creates many opportunities for workers.”
Minnesota’s unemployment rate ticked down two-tenths of a percentage point to 2.9% in December 2023 from November; the U.S. unemployment rate remained at 3.7%. Minnesota’s labor force decreased by 6,590 people over the month, the third straight month of labor force declines. The labor force participation rate ticked down two-tenths of a percentage point to 68.1%. The U.S. labor force also declined, with the national labor force participation rate decreasing three-tenths of a percentage point to 62.5%.