MN jobless rate ticks up to 4 percent in August; 1,500 jobs lost
Updated: 11:05 a.m. | Posted: 10:30 a.m.
Minnesota's jobless rate rose to a seasonally adjusted 4 percent in August, up from 3.9 percent in July, as employers cut 1,500 jobs, state officials said Thursday.
It was the first time in more than two years that Minnesota's rate touched 4 percent.
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While still significantly better than the nation's 4.9 percent jobless rate, Minnesota continues to lag the nation in job creation. Jobs grew at a 1.7 percent rate the past 12 months in the U.S. and 1.4 percent in Minnesota.
"Job growth over the past year indicates the Minnesota economy is expanding at a healthy pace," Department of Employment and Economic Development Commissioner Shawntera Hardy said in a statement releasing the data. "Seven of the state's 11 major industrial sectors added jobs in the last 12 months, and other economic measures point to continued growth."
The agency said the state has added 40,629 jobs over the past year. In that period, education and health services led all sectors with 21,590 new jobs.
Sectors losing jobs the past 12 months include information (down 2,174), logging and mining (down 1,147), manufacturing (down 511) and other services (down 204).