State’s unemployment rate holds steady
Published 6:40 am Friday, January 22, 2010
The Minnesota Department of Employment and Economic Development released the state’s unemployment for December on Tuesday, and the numbers showed Minnesota’s unemployment rate remained steady at a seasonably adjusted 7.4 percent.
The national unemployment rate was 10 percent. DEED will release unemployment numbers for counties and regions on Jan. 26.
The number of jobs in the nation and Minnesota has been reduced by 3 percent over the year. In December, Minnesota employers cut 4,100 jobs.
“December’s results are consistent with the ebb and flow of a recovering economy,” said DEED commissioners Dan McElroy in a press release. “We expected the pace of recovery would be slow, although generally the Minnesota economy is on the mend and should continue to improve in the coming months.”
The largest job loss in December occurred in the trade, transportation and industry sector, which lost 3,800 jobs. Construction lost 11,700 jobs. Financial activities lost 1,700 jobs. Leisure and hospitality lost 1,300 jobs. Education and health care lost 900 jobs.
However, the education and health services sector has added 4,800 jobs over the last year.
Other sectors did experience job growth in December: professional and business services gained 3,900 jobs, manufacturing gained 1,000 jobs, government gained 1,300 jobs and logging and mining gained 100 jobs.
Many areas showed year-over-year job loss with manufacturing down 33,100; trade, transportation and utilities down 17,700; professional and business services down 8,700 and construction down 7,800.
Over-the-year jobs fell by 3.4 percent in the Duluth-Superior area, 3.1 percent in St. Cloud, 2.7 percent in Minneapolis-St. Paul, and 0.5 percent in Rochester.
Details about the December unemployment rate and the job market are available at www.postivelyminnesota.com