Minnesota’s jobless rate encroaches an all-time low
Published 8:09 pm Thursday, October 18, 2018
By Bill Catlin, Minnesota Public Radio News
Minnesota’s unemployment rate fell to 2.8 percent in September, the lowest rate since May of 1999.
Still, last month payroll employment fell for a second straight month. September’s job loss totaled 1,400. Economic officials revised the August drop from 200 to 2,500 lost. But those declines followed a strong hiring spurt over the summer months.
The unemployment rate and payroll employment are based on two separate surveys — one of households and the other of employers.
Job gains in trade, transportation and utilities led all other sectors in September with a gain of 1,200, followed by government (1,100), financial activities (900), construction (300), and information and professional and business services (each 200).
The industries cutting payroll positions in September include; leisure and hospitality (-1,700), manufacturing (-1,600), other services (-1,300) and education and health care (-700).
Minnesota’s jobless rate reached the record low of 2.5 percent in January and February of 2000.