The Minnesota job scene is getting murkier by the month. The September report has the state losing 6,300 jobs. Year to date the state has created 9,000+ jobs and while a decent number earlier in the year that number was 35,000+. Over the year growth is down to .4% while US growth is 1.2%
Clearly a slow down is upon Minnesota and we are very much lagging behind the country as a whole.
While some are blaming the ongoing slow down of the housing market it is more wide spread than that. Declines in September were spread widely throughout the economy, with eight of 11 broad classifications losing jobs. Construction saw the sharpest decline (down 2,800 jobs) followed by Government (down 1,300) and Leisure and Hospitality (down 1,200).
Trade, Transportation and Utilities (up 600 jobs) and Financial Services (up 200 jobs) saw small monthly gains in September, while Professional and Business Services was flat.
In total Minnesota lost 17,400 jobs during third quarter 2007.
Unemployment rate:
- September ’07, 4.9%
- August ’07, 4.6%
- July ’07, 4.6%
- June ’07, 4.5%
- May ’07, 4.6%
- April ’07, 4.5%
- March ’07. 4.2%
- February ’07, 4.5%
- January ’07, 4.4%
- December ’06, 4.1%
- November ’06, 4.1%
- October ’06, 4.0%
- September ’06, 4.0%
Jobs Created/Lost:
- September ’07, -6,300
- August ’07, -2,000
- July ’07, -7,300
- June ’07, +4,200
- May ’07, +7,200
- April ’07, +500
- March ’07, ???
- February ’07, -1,200
- January ’07, +13,100
- December ’06, -1,600
- November ’06, +12,300
- October ’06, +3,300
- September ’06, -12,700
Over The Year Job Growth:
- September ’07, +9,800
- August ’07, ???
- July ’07, +19,165
- June ’07, +35,133
- May ’07, +41,515
- April ’07, +36,711
- March ’07, ???
- February ’07, +20,787
All numbers above are seasonally adjusted.
Click Employment & Economic Statistics for more posts on the topic and MN Headhunter for the latest blog posts.
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