Unemployment Rate Drops to 3.1 Percent in November

Monday, February 12, 2018

Employers eliminate 4,000 jobs

Minnesota’s overall unemployment rate fell to 3.1 percent in November, the lowest level since July 2000, according to seasonally adjusted figures released today by the Minnesota Department of Employment and Economic Development (DEED). The U.S. unemployment rate was 4.1 percent in November. 

State employers eliminated 4,000 jobs in November on a seasonally adjusted basis, while October’s figures were revised from 4,500 jobs lost to 2,400 jobs lost. The state has added 34,566 jobs over the past year, an increase of 1.2 percent. U.S. jobs grew 1.4 percent in the past 12 months. 

“The overall number of unemployed Minnesotans fell below 100,000 last month for the first time since March 2001.” said DEED Commissioner Shawntera Hardy. “While the state lost jobs in November, Minnesotans are continuing to find work in an improving economy.” 

Trade, transportation and utilities led all sectors in November with 2,300 new jobs. Other industries adding jobs were construction (up 1,800), professional and business services (up 1,800), financial activities (up 500), education and health services (up 500) and logging and mining (up 100). 

The following sectors lost jobs: leisure and hospitality (down 7,500), other services (down 1,500), manufacturing (down 700), information (down 700) and government (down 600). 

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