The detailed state employment statistics for July 2012 have been released by the Department of Labor. The State of Minnesota's unemployment rate for the month was published at 5.8%. This is a 0.2% increase over June and breaks the 3-month trend of 5.6% (Apr-Jun). Minnesota's rate has stayed in the upper 5% range since November last year. When compared to June, there are around 6,000 more unemployed workers in Minnesota. The number of people employed in the State dropped by roughly 5,500 and the civilian workforce numbers were relatively flat. The effect of these changes was the July rate increase.
When we compare July 2012 to July 2011 we find that the current rate is still 0.8% lower than the 2011 rate of 6.6%. Comparing the two years, there are roughly 24,000 fewer unemployed individuals in MN in July 2012 vs. July 2011. Also, there are about 18,600 more individuals employed in the state. However, during the past year the overall workforce actually went down by about 5,600. These changes in the employment statistics resulted in the major rate reduction in the past year.
If we look at MN's business sector numbers for July we see the results are mixed. Up for July were the business sectors of Construction, Trade Transportation and Utilities, Financial Activities, and Leisure & Hospitality. Down for the month were Manufacturing, Information (slightly), and Education & Health Services.
Next we'll review the July the employment statistics for the big cities in MN for July 2012. Though most of the changes were small, the majority of the metropolitan areas that were reported on showed increases in their unemployment rates. On the rise in July was the City of Mankato - up to 5.3% from 5.0% in June. The City of St. Cloud rose from 5.7% to 5.8%. Also up in July was Duluth rising from 7.0% to 7.1%. The Twin Cities Metro Area of Minneapolis & St. Paul also saw their rate rise in July from 5.8% to 5.9%. A couple of cities experienced improvements including the City of Rochester (4.9% from 5.0%) and the Fargo Area (3.3% to 3.0%).
We can also see how MN is doing compared to it's neighboring states in the Midwest. States with higher unemployment rates for July include Wisconsin (7.3%), Illinois (8.9%) and Michigan (9.0%). States with lower rates are Iowa (5.3%), North Dakota (3.0%), and South Dakota (4.4%).
Later this Summer the U.S Department of Labor will published the August 2012 employment numbers for MN. When they do we'll once again review the data for the state, it's industries, and it's cities. Please remember that previously published numbers may be adjusted by the Department of Labor.
If you're unemployed in MN and looking for information please visit the MN Unemployment Headquarters.
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