Minnesota's economy added 10,300 jobs in May, and the state's jobless rate fell one tenth of a percent to 4.6 percent.
The Minnesota Department of Employment and Economic Development says the professional and business services sectors posted the largest employment gain in May, adding 4,100 jobs. That was followed by construction (+3,800) and manufacturing (+2,900).
Minnesota has added 45,617 jobs in the past year, a growth rate of 1.6 percent, compared with a U.S. growth rate of 1.8 percent over the same period.
The professional and business services sector led the job gains last month, state labor market economist Steve Hine said. But there were losses in financial jobs, partly because of regulatory changes and restructuring, he said.
"It's down 16-hundred jobs nearly over the last year, and all of that is in the finance and insurance areas, in particular the banking sector."
Minnesota's unemployment rate is well below the U.S. jobless rate in May of 6.3 percent.
"Minnesota's unemployment rate is at the lowest level in seven years, which is yet another indicator of our improving economy," said DEED Commissioner Katie Clark Sieben. "It is also encouraging to see growth occurring in Minnesota's construction and manufacturing sectors, which have each added more than 9,000 jobs in the past year."
The government sector posted the biggest employment decline, -1,300 jobs. Leisure and hospitality dropped 500, the education and health services sector and financial activities both shed 100 positions.