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Unemployment Rates

Minneapolis’ unemployment rate increased to 3.3% in June 2019, but still remained below the national unemployment rate of 3.7%. Minnesota added 3,300 jobs in June, marking the first time the state has added jobs in four consecutive months since February 2018.

Workforce Insights

Jobs added and an increased labor force participation rate are encouraging signs for Minnesota companies, but many employers are still having a difficult time finding talent.

Many industries in Minnesota are facing a skills gap and labor shortage, particularly manufacturing, mining, logging and construction, and trade, transportation and utilities.

Low unemployment rates mean a highly competitive labor market. With that in mind, companies are starting to understand that if wages are not market value or above, they will not attract top talent.

The unemployment rate in Minneapolis was 3.3% in June 2019, up from 2.7% in May, while the U.S. unemployment rate was 3.7% in June, up from 3.4% the previous month.

Total nonfarm employment in Minneapolis in June 2019 was up by 0.4% from June 2018, and total nonfarm employment in the U.S. was up by 1.5% from the previous year.

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U.S. Minneapolis

May-19 Jun-19

Over-the-Year % Change in Total Nonfarm Employment

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U.S. Minneapolis

For additional information, please contact:

Stephen White, Vice President, North Central Regionstephen.white@kellyservices.com | 773.294.5178 | www.kellyservices.us/us/business_services

Connect with Stephen White at: https://www.linkedin.com/in/stephen-white-6000924

Sources:

Bureau of Labor Statistics, Minnesota Department of Employment and Economic Development

National Employment Trends

3.7%UnemploymentRate

224K WorkersHired

Average Hourly Earnings forAll Workers$27.90

Minneapolis Employment Trends

3.3%UnemploymentRate

24K WorkersHired

Increase in Total Nonfarm Employment From June 20180.4%

EMPLOYMENT TRENDSU.S. AND MINNEAPOLISJUNE 2019

Jun-18 Jul-18 Aug-18 Sep-18 Oct-18 Nov-18 Dec-18 Jan-19 Feb-19 Mar-19 Apr-19 May-19 Jun-19