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June Unleashed: 7,300 Jobs

8/8/2016 2:00:00 PM

Minnesota employers added 7,300 jobs in June, according to seasonally adjusted figures, and the overall unemployment rate remained a steady 3.8 percent.

Those gains, however, were largely offset by figures from May that were revised from 1,900 jobs lost to 8,400 jobs lost.

Over the year, Minnesota has added 34,246 jobs, a 1.2 percent gain. For more on the June numbers, go here for the complete DEED press release.

Summer Heat in Leisure & Hospitality Hiring

Summers are precious commodities for Minnesotans, who love their fairs, festivals, and outdoor activities. Leisure & Hospitality took a while to rev up, but now the sector has regained another all-time high in June: Both accommodations and bars & restaurants added jobs at historically high rates (unadjusted terms).

Accommodations added jobs in June at a rate of 14.5%, nipping at the heels of a 12.7% increase in May – both gains were all-time highs for those months – enough to yield an all-time high annual growth rate in June of 6.7%.

Bars & restaurants saw a 3.2% gain during the month, enough to put the unadjusted count of jobs at food & drinking establishments above the 200,000 mark (202,644) for the first time ever. Think food trucks and craft beer – and check Minnesota Economic Trends for an overview of the state’s craft beer industry.

Economic Sideline

From studies on wage and job disparities to equity grants and grants to help racial and ethnic youth prepare for careers, DEED is sharply focused on closing the disparities gap.

Here’s one notable sign of improvement from the June numbers: The unofficial 12-month moving average unemployment rate of black Minnesotans fell below 10% (to 9.7%) for the first time since mid-2002. It still stands over 3.3 times higher than the 2.9% rate for whites – nowhere near where we need to be – but the black rate is well down from its 23.3% peak in August 2011.

Improving employment conditions of Minnesota’s minority populations may be a long-awaited consequence of an ever tighter labor market.

Here’s a good closer: DEED has added a section to its website that examines the unemployment rate by demographics (race, age and gender) and looks at alternative measures of unemployment. Go here for details.

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