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St. Paul – Minnesota has completely recovered the private sector jobs it lost during the first months of the COVID-19 pandemic, according to new data from the Minnesota Department of Employment and Economic Development (DEED).
Minnesota gained 10,100 jobs in the last month (seasonally adjusted basis), up 0.3 percent. The private sector gained 9,400 jobs, up 0.4 percent. In comparison, U.S. employment increased by 311,000 jobs, up 0.2 percent, with the private sector up 265,000 jobs, or 0.2 percent, from January to February.
Minnesota lost 416,000 jobs from February through April 2020 (benchmarked) and has since gained 405,900 jobs as of February 2023, or 97.6 percent of the jobs lost (seasonally adjusted basis). The private sector lost 385,900 jobs from February through April 2020 and has regained 388,700 jobs. This marks the first month when the private sector has fully recovered from pandemic induced loss and went on to gain an additional 2,800 jobs.
From January to February, Minnesota’s unemployment rate ticked up one-tenth of a percent to 3 percent and the labor force participation rate ticked down one-tenth of a percent to 68 percent. Nationally, over the month, the unemployment rate rose two-tenths of a percent to 3.6 percent and the labor force participation rate ticked up one-tenth percent to 62.5 percent.
Over the month in Minnesota, eight supersectors gained jobs on a seasonally adjusted basis, including notable growth in the following:
Construction gained 2,200 jobs, 1.7%.
Other Services gained 1,800 jobs, up 1.7%.
Manufacturing gained 1,500 jobs, 0.5%.
Professional & Business Services gained 1,300 jobs, up 0.3%.
Education Health Services gained 1,000 jobs, up 0.2%, driven by a gain of 2,600 jobs (0.5%) in Health Care & Social Assistance.
Over the year (OTY) in Minnesota, all supersectors posted positive annual growth except Mining & Logging, which lost 104 jobs, down 1.7 percent. Noteworthy changes:
Leisure & Hospitality continued strong recovery from the pandemic, posting the largest growth of all supersectors, gaining 19,737 jobs, up 8.4%. This growth was driven by double-digit percentage increases in Arts, Entertainment & Recreation, and Accommodation.
Construction gained 4,905 jobs (4.3%).
Government continued to post positive growth over the year, up 9,749 jobs (2.4%) outpacing U.S. growth (1.6%).
Education & Health Services gained 12,478 jobs (2.3%), mostly driven by growth in Nursing & Residential Care Facilities and Social Assistance.
Trade, Transportation & Utilities added 6,063 jobs, up 1.2%.
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