Minnesota’s labor force participation rate held steady at 68% in May, keeping us among the highest in the nation. But, our unemployment rate ticked up slightly to 2.8%.
DEED Commissioner Matt Varilek said they’re closely monitoring job growth and working to address the skill gaps in our workforce. Governor Walz and Lt. Governor Flanagan announced initiatives to prepare 2,100 Minnesotans for jobs in sectors like construction and healthcare.
Despite some losses, seven supersectors added jobs, with Education & Health Services leading the way. On the downside, Professional & Business Services saw significant declines.
Over the past year, Minnesota added nearly 35,000 jobs. Notably, our wage growth outpaced inflation, with average hourly earnings up to $37.12, a 5.5% increase from last year.