by Nick Dobbins
March 2024
Monthly analysis is based on seasonally adjusted employment data.
Yearly analysis is based on unadjusted employment data.
Employment in Minnesota was up 100 (0.0%) over the month on a seasonally adjusted basis in February, after adding 7,900 jobs in January. Goods producers lost 2,300 jobs (0.5%) while service providers added 2,400 jobs (0.1%).
Over the year Minnesota employers added 37,565 jobs or 1.3%. Service providers added 41,332 jobs (1.7%) while goods producers lost 3,767 jobs (0.8%). Private sector employers added 15,274 jobs (0.6%), and public sector employers added 22,291, or 5.3%.
Employment in Mining and Logging was down by 100 (1.4%) over the month of February, on a seasonally adjusted basis. This loss came after a flat January and the addition of 300 jobs in December.
Over the year Mining and Logging employers added 809 jobs or 14.1%. It was the largest proportional annual gain of any supersector in the state. The growth notably outpaced national movement in the supersector of 1.1%. Over-the-year growth in Mining and Logging has been above 10% for three consecutive months, dating back to December 2023.
Construction employment in Minnesota was off by 3,000 or 2.3% in February. This was the largest real and proportional movement in either direction for any supersector in the state.
Over the year employment in Construction was off by 2,221 or 1.9%. Every published component sector lost jobs except for Heavy and Civil Engineering, which was up 17.8% or 2,027 jobs. Residential Building Construction saw the steepest proportional decline of any published component, off by 9.1% or 1,357 jobs.
Manufacturing employers added 800 jobs or 0.2% over the month in February. Both published components added jobs, with Non-Durable Goods Manufacturing up 700 (0.6%) and Durable Goods Manufacturing up 100 (0.0%). Employment growth in the supersector was flat in January.
On an annual basis Manufacturing employers lost 2,365 jobs or 0.7%. Both major component sectors lost jobs. Durable Goods was off by 1,450 (0.7%), and Non-Durable Goods was off 915 (0.8%). Notable declines in smaller component series included Fabricated Metal Product Manufacturing, which was down 1,080 jobs or 2.4%, and Animal Slaughtering and Processing, which was off 884 or 4.9%.
Trade, Transportation, and Utilities employers lost 600 jobs (0.1%) on a seasonally adjusted basis in February. The declines came entirely in Retail Trade, which lost 1,800 jobs (0.6%) and has lost jobs in both months of 2024 after ending 2023 with five consecutive months of growth totaling 8,300 jobs. Growth was 600 in both Wholesale Trade and Transportation, Warehousing, and Utilities, up 0.4% and 0.5%, respectively.
Over the year employment in the supersector was up 6,901 jobs or 1.3%. Both trade components added jobs, with Wholesale up 3,062 (2.3%) and Retail up 4,970 (1.8%). Transportation, Warehousing, and Utilities lost 1,131 jobs or 1%. This was an improvement over January's 1.5% annual job loss.
Employment in Information was up by 200 (0.5%) over the month of February. It also added 100 jobs in January, after posting negative growth in the last three months of 2023.
Over the year Information employers lost 2,230 jobs or 4.9%. Publishing was off by 978 (5%), and Telecommunications employers lost 335 jobs or 3.7%.
Financial Activities employers lost 500 jobs (0.3%) in February after losing 400 jobs in January. Finance and Insurance was down by 500 (0.3%) in February, while Real Estate and Rental and Leasing added 100 jobs (0.3%).
On an annual basis employment in Financial Activities was down 4,494 or 2.4%. Most of the losses came in Finance and Insurance, which was down by 4,462 or 2.9% as component Credit Intermediation and Related Activities was off by 3,046 (5.1%). Real Estate and Rental and Leasing lost 32 jobs (0.1%), with the Real Estate component down 910 or 3.2%.
Employment in Professional and Business Services was up 1,200 (0.3%) over the month in February, after adding 1,100 jobs in January. Management of Companies added 700 jobs (0.8%), and Administrative and Support and Waste Management and Remediation Services added 800 jobs (0.6%), while Professional, Scientific, and Technical Services lost 300 jobs (0.2%).
Over the year the supersector lost 11,643 jobs or 3%. This was the largest real job loss of any supersector in the state. All three component sectors lost jobs, with the steepest decline coming in Administrative and Support and Waste Management, which was off 7% or 8,877 jobs. Employment Services was off by 13.5% (7,863 jobs), which was an improvement over January's 14.5% annual loss.
Educational and Health Services employment was mostly flat on the month, adding 200 jobs (0.0%) in February. Both component sectors added 100 jobs, with Educational Services up 0.1% and Health Care and Social Assistance at 0.0% growth.
On an annual basis employment in the supersector was up 19,841 or 3.5%. The growth came entirely in Health Care and Social Assistance, which added 21,772 jobs or 4.5%, with growth in every published component sector. Nursing and Residential Care Facilities employment was up 6,878 or 6.8%. Educational Services employment was down by 1,931 or 2.5% over the year in February.
Employment in Leisure and Hospitality was off by 400 (0.1%) over the month in February. Both component sectors lost jobs, with Arts, Entertainment, and Recreation off by 100 (0.2%) and Accommodation and Food Services down 300 (0.1%). It was the third month of seasonally adjusted declines in the last four months for the supersector.
Over the year Leisure and Hospitality employers added 6,437 jobs or 2.6%. Accommodation and Food Services added 7,417 jobs (3.5%) with growth in every published component. Accommodation was up 6.6% (1,536 jobs), while Food Services and Drinking Places were up 3.2% (5,881 jobs). Arts, Entertainment, and Recreation lost 980 jobs (2.4%), the third consecutive month of annual declines for the sector.
Other Services employers added 600 jobs (0.5%) in February, after holding steady in December and January.
Over the year the supersector added 4,299 jobs or 3.8%, outpacing the national annual growth of 1.7%. All published components added jobs, with Personal and Laundry Services up 1,267 (4.8%), Repair and Maintenance up 666 jobs (2.9%), and Religious, Grantmaking, Civic, and Professional Organizations added 2,296 jobs (3.7%). Annual growth in Other Services has not dipped below 3% since April of 2022.
Employment in Government was up 1,700 (0.4%) over the month in February. All three levels of government added jobs, with Local up 1,000 (0.3%), State up 500 (0.5%), and Federal up 200 (0.6%).
Over the year Government employers added 22,291 jobs or 5.3%. This was the largest real job growth of any supersector in the state, and outpaced national growth in Government employment, which was at 2.8%. While all three levels of government added jobs, the growth was primarily driven by Local Government employers, who added 18,117 jobs (6.4%), with Local Government Education up 9,625 (6.6%) and Non-Education up 8,492 (6.1%).
| Minnesota Seasonally Adjusted Nonagricultural Wage and Salary Employment (In Thousands) | |||
|---|---|---|---|
| Industry | Feb-24 | Jan-24 | Dec-23 |
| Total Nonfarm | 3008.2 | 3008.1 | 3008.7 |
| Goods-Producing | 461.9 | 464.2 | 469.5 |
| Mining and Logging | 6.8 | 6.9 | 6.8 |
| Construction | 130.1 | 133.1 | 140.7 |
| Manufacturing | 325 | 324.2 | 322 |
| Service-Providing | 2546.3 | 2543.9 | 2539.2 |
| Trade, Transportation, and Utilities | 536.5 | 537.1 | 542.2 |
| Information | 43.4 | 43.2 | 45 |
| Financial Activities | 186.3 | 186.8 | 185.2 |
| Professional and Business Services | 381.2 | 380 | 380.8 |
| Educational and Health Services | 579.1 | 578.9 | 579 |
| Leisure and Hospitality | 269.4 | 269.8 | 276 |
| Other Services | 116.1 | 115.5 | 108.6 |
| Government | 434.3 | 432.6 | 422.4 |
| Source: Department of Employment and Economic Development, Current Employment Statistics, 2024. | |||
