Minnesota gains 11,000 jobs in March, showing strong labor force growth
ST. PAUL, Minn. — March employment figures for Minnesota show strong labor force growth, officials say, as the state gained roughly 11,000 jobs compared to the previous month.
Compared to the month of February, the labor force participation rate bumped up one-tenth of a percent to 68%. The private sector gained roughly 8,000 jobs, and the labor force increased by 3,000 people. The unemployment rate remained at a steady 2.7%, according to the Minnesota Department of Employment and Economic Development.
"Our strong job and labor force growth shows that Minnesota's economy continued to provide great opportunities for Minnesota residents as well as those who would like to call Minnesota home," said DEED Commissioner Matt Varilek.
The supersectors that gained the most jobs were leisure and hospitality, government, education and health services, and construction.
Over the last year, Minnesota gained more than 47,000 jobs, which is up 1.6%. As a whole, U.S. employment ticked up 1.9% compared to last year. Nationally, the unemployment rate sits at 3.8%, the U.S. Department of Labor said earlier this month.
Key metrics and economists say that the U.S. is showing a strong and resilient economy, though experts say that consumers are still frustrated with their financial reality.
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According to a recent Wall Street Journal poll, 3 in 4 consumers in swing states said they believe inflation is going the "wrong way," even though it has come down a long way from its 40-year peak of 9.1% in June of 2022.
Note: The above video first aired on April 5, 2024