Minnesota Loses 1,900 July Jobs as Unemployment Edges Down to 4.3%
Updated
Updated · Patch · Aug 21
Minnesota Loses 1,900 July Jobs as Unemployment Edges Down to 4.3%
3 articles · Updated · Patch · Aug 21
Summary
Minnesota shed 1,900 nonfarm jobs in July on a seasonally adjusted basis, ending a four-month run of payroll growth and marking the first monthly decline in five months.
Private employers accounted for 800 of the net losses, which state economists tied largely to typical mid-summer labor shifts rather than a broader demand slump.
The softer month still left Minnesota up more than 44,000 jobs since January, a 1.5% gain that DEED said far outpaced the national 0.2% growth rate over the same period.
July's unemployment rate dipped to 4.3% even as labor force participation eased, while manufacturing and construction lost ground and health care, social assistance, professional services and hospitality kept 12-month hiring gains intact.
DEED said consumer demand remains solid in the Twin Cities and state agencies are continuing job training and placement efforts for technical, health care and trade openings.