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June 2008 Minnesota Jobs Report

No doubt the Minnesota jobs reports have not been outstanding but since the -10,000 in April '08 that was all over the print and TV news I have not seen much written about the +5,000 gained since then.

Frequent visitors are not surprised to see me say something like this, bad news is news and good news is not news. Some balance would be nice.

What I mean is, when the April report came out one might have thought the sky was falling. They did not mention with the late winter and spring employers had not yet started to hire for the season. They (most) did not mention that the biggest loss of jobs was for those under 25.

Does it suck to be under 25 and without a job? Of course. But looking at things in a macro view it needs to be taken in context.

Also, only a couple of national stories mentioned the higher minimum wage. I do wonder how much that plays a part in this. Surely some small employers are doing more with fewer workers. (This is not a political statement for against but it in some small part it has to be cause/effect)

Points from the June ‘08 report:

  • The state has added 1,900 jobs through the first half of the year, compared with a U.S. loss of 438,000 jobs during that period.
  • Growth: Government, and Education and Health Services +1400, Financial Activities + 900, Other Services +600 and Construction +600.
  • Declines: Trade, Transportation and Utilities -1500, Professional and Business Services -800, Information -200, Leisure and Hospitality -200, and Natural Resources and Mining -100.

Unemployment rate (seasonally adjusted):

  • June '08, 5.3%
  • May '08, 5.4%
  • April '08, 4.8%
  • March '08, 4.7%
  • February '08, 4.6%
  • January '08,  4.5%
  • December ’07, 4.9%
  • November ’07, 4.4%
  • October ’07, 4.7%
  • September ’07, 4.9%
  • August ’07, 4.6%
  • July ’07, 4.6%
  • June ’07, 4.5%

Jobs Created/Lost (seasonally adjusted):

  • June '08, +3,400
  • May '08, +2,500
  • April '08, -10,100
  • March '08, +5,200
  • February '08, -4,100
  • January '08, +8,500
  • December ’07, -2,300
  • November ’07, +6,900
  • October ’07, -6,600
  • September ’07, -6,300
  • August ’07, -2,000
  • July ’07, -7,300
  • June ’07, +4,200

Over The Year Job Growth (not seasonally adjusted):

  • June '08, +7,600
  • May '08, +7,100
  • April '08, +19,000
  • March '08, +17,200
  • February '08, +12,500
  • January '08, +15,300
  • December ’07, -700
  • November ’07, +2,566
  • October ’07, +2,100
  • September ’07, +9,800
  • August ’07, ???
  • July ’07, +19,165
  • June ’07, +35,133

 

Click Employment & Economic Statistics for more posts on the topic and MN Headhunter for the latest blog posts.

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