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MPR News Staff
St. Paul

Minn. jobless rate improves to 3.7 percent in May; employers cut jobs

Minnesota seasonally adjusted monthly unemployment rate
Minnesota seasonally adjusted monthly unemployment rate through April 2017,
Courtesy of Federal Reserve Bank of St. Louis.

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Minnesota's unemployment rate came in at a seasonally adjusted 3.7 percent in May, a slight improvement from April, although employers eliminated 7,200 jobs, officials said Thursday.

May's 3.7 percent rate, down from 3.8 percent in April, matched a post-Great Recession low point last seen in June 2015 and remained significantly below the U.S. unemployment rate, which came in at 4.3 percent in May.

Despite the one-month job loss, Minnesota has added 48,068 jobs the past 12 months, a gain of 1.7 percent compared to a 1.5 percent national growth rate, the Minnesota Department of Employment and Economic Development said.

DEED Commissioner Shawntera Hardy said the data "point to continued strength in the state labor market."

Sectors adding jobs last month include "other services" with 2,100 new jobs, followed by manufacturing (up 800) and logging and mining (up 100).

Industries losing jobs in May include: government (down 2,600), construction (down 2,600), professional and business services (down 2,100), and trade, transportation and utilities (down 1,900).