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.

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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.