Minnesota jobless rate steady at 2.8 percent

Monthly seasonally adjusted unemployment rate through September 2018.
Monthly seasonally adjusted unemployment rate through September 2018.
Courtesy of Federal Reserve Bank of St. Louis.

Minnesota's unemployment rate held steady in October at 2.8 percent as the labor market gained 3,400 jobs. The number of unemployed Minnesotans now at 86,118 which is the lowest since the last recession, officials said Thursday.

Over the past year, Minnesota gained 36,450 jobs or 1.2 percent and the private sector gained 1.3 percent. The national growth rate for the year is 1.7 percent total growth and 2.0 percent in the private sector, the Minnesota Department of Employment and Economic Development said in a statement.

"With an overall 2.8 percent unemployment, employers are working harder to attract and retain talent," DEED Commissioner Shawntera Hardy said in the statement.

Sectors that gained jobs in October included leisure and hospitality (2,500), construction (1,500) and trade, transportation and utilities (800). Sectors that lost jobs included "other services" (800), professional and business services (700) and government (500).

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