Minnesota jobs data flat in July; unemployment at 3.2%

Minnesota employment data was statistically flat in July, with the state losing a net 1,100 jobs and the unemployment rate rising to 3.2%, according to a news release from the Minnesota Department of Employment and Economic Development on Thursday.

The labor force fell by 2,200 people over the month, DEED said, and the state’s labor force participation rate was 67.8%; this measures the portion of the population that is working or actively seeking work, and is used to calculate the headline unemployment rate.

“Despite monthly variance, Minnesota’s economy remains in a strong place. Companies report that they expect to continue hiring, we’re monitoring dozens of business expansions that will create thousands of jobs, and DEED is working hard to grow the state’s labor force as our new workforce programs enroll and graduate participants,” said DEED Commissioner Matt Varilek in the release.

Three of Minnesota’s 11 supersectors gained jobs in July, led by Education & Health Services, which added 4,300 jobs. Six supersectors lost jobs, including Trade, Transportation & Utilities, down 2,400 jobs; Leisure & Hospitality, down 2,000 jobs; and Financial Activities, down 1,100 jobs.

Average hourly wages for private sector workers increased $1.42, or 3.9% over the year. The Consumer Price Index, a common measure of inflation, rose 2.9% over the year, meaning wages in Minnesota increased faster than inflation.