Minn. Unemployment Rate Holds Steady In May
ST. PAUL, Minn. (AP) — Minnesota’s unemployment rate was unchanged in May compared to the previous month, as employers added 8,400 jobs.
The state Department of Employment and Economic Development reported Thursday that the seasonally adjusted unemployment rate for May was 5.3 percent, the same as it was in April. The state also lost 1,200 fewer jobs in April than was originally estimated.
Minnesota continued its long streak of outperforming the national jobless rate, which in May was 7.6 percent.
The agency said Minnesota has now regained just over 93 percent of the jobs lost during the recession. The state is 10,700 jobs shy of the pre-recessionary peak.
“Last month’s figures add to the mounting evidence of a broad-based economic recovery in Minnesota,” said Katie Clark Sieben, the commissioner of employment and economic development. “Every major industrial sector has added jobs in the past 12 months, and the state’s unemployment rate remains at a five-year low.”
The biggest gaining job sectors in May were leisure and hospitality, government, professional and business services, and education and health services. Construction, manufacturing and financial activities also saw smaller gains. Sectors that lost jobs in May included trade, transportation and utilities, information, and mining and logging.
Job growth was also geographically distributed, with gains seen in regions around the Twin Cities, St. Cloud, Mankato, Rochester and Duluth.
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