Minnesota gains 11,000 jobs in March, unemployment steady at 2.7%

Minnesota gained an estimated 11,000 jobs in March, on a seasonally adjusted basis, with the private sector posting roughly 8,000 jobs, according to data released Thursday by the Minnesota Department of Employment and Economic Development. The unemployment rate remained steady at 2.7%.

DEED also said Minnesota’s labor force increased by an estimated 3,000 people over the month, bumping the labor force participation rate up one-tenth of a percentage point to 68%. This rate measures the total number of people working full-time or actively seeking work, and is used to calculate the headline unemployment rate.

“March was a great month all around for Minnesota employers and workers,” said DEED Commissioner Matt Varilek in a news release. “Our strong job and labor force growth shows that Minnesota’s economy continues to provide great opportunities for Minnesota residents as well as those who would like to call Minnesota home.”

Five sectors saw job gains, including, including Leisure & Hospitality, up 5,000 jobs; Government, up 3,000 jobs; Education & Health Services, up 2,800 jobs, and Construction up 2,700 jobs.

Over the year, Minnesota has gained 47,508 jobs, up 1.6%, with the private sector up 23,161 jobs or 0.9%.

Year-to-date nationally, U.S. employment grew 1.9% with the private sector up 1.7%. In March, the national unemployment rate ticked down one-tenth of a percentage point to 3.8%.

By ethnicity in March, unemployment among Black Minnesotans was  3.3% in March; for Hispanics 4.3%; white Minnesotans, 2.7%, and Asians 1.9%.

A broader measure of unemployment, called the U-6, was 5.4% in March, down from 5.5% in February. This measure factors in people who have voluntarily left the labor force and are no longer looking for work, in addition to part-time workers seeking full time work.