The State of Minnesota's September 2012 unemployment rate was 5.8%. This is a small drop (0.1%) from the August 2012 number and is the first monthly rate reduction in Minnesota since April. For the month, there were approximately 173,000 unemployed workers in Minnesota, a decline of approximately 2,300. It was additionally reported that there were approximately 2.8 million employed people in September, which was an increase over August of roughly 5,500. The total civilian workforce also improved in September by nearly 3,200. Taken collectively, these results lowered Minnesota's overall unemployment rate by 0.1% for the month.
Looking back a year to September 2011 the current 5.8% rate is 0.5% lower than Minnesota's unemployment rate in 2011. There are nearly 14,000 fewer unemployed in MN compared to a year ago when there were an estimated 187,000 unemployed workers. Additionally, during that same timeframe there are around 7,000 more employed people in the state in 2012 in comparison with 2011. The total workforce, however, dropped in the past year by approximately 6,800 people. Collectively these statistics produced the 0.5% drop in Minnesota's rate during the last year.
Minnesota also continues to have a much lower unemployment rate than the nation as a whole. Minnesota's 5.8% September rate is 2 full percentage points lower than the national average of 7.8%. Both Minnesota's and the nationwide rate went down in September 2012.
Several of Minnesota's business types experienced employment gains in September 2012. Construction, Financial Activities, Professional & Business Services, Leisure & Hospitality, Trade Transportation & Utilities, and Professional & Business Services were all up in September. Minnesota major business sectors that were down in September included Mining & Logging, Manufacturing, Information, and a sizable drop in Government.
Construction was the Minnesota major business sector with the biggest employment gains (by percentage) during the past 12 months (up 4.8%). The biggest 12 month drop was in Leisure & Hospitality (down 1.7%). Trade, Transportation & Utilities had the most employed in MN in September with an estimated 495,200 workers. This was followed by Education & Health Services, Government, and Professional & Business Services as the largest industries (by employment) in Minnesota.
Minnesota's 5.8% rate continues to also be one of the lowest in the area. Neighboring Wisconsin's September 2012 rate was 7.3% (down 0.2%). The State of Michigan's rate also went down in September by 0.1% to 9.3%. Also lower for the month were Illinois (down 0.3% to 8.8%) and Indiana (down 0.1% to 8.2%). The State of Iowa continues to have a very low rate of 5.2%, also lower in September 2012 by 0.3%.
When Minnesota's' October 2012 employment numbers are available in approximately a month, we'll take another look at the state's results. As usual, please remember that previously published employment statistics do change and are often times modified in the future.
If you're unemployed in Minnesota and looking for information please visit the MN Unemployment Headquarters.
0 comments:
Post a Comment