Payroll Palooza: August Jobs Boom In Minnesota
(KNSI) – Minnesota’s job market boomed in August, posting the largest monthly gain since 2022.
Employers were delivering job offers fast and furious, with payrolls expanding by 14,400 positions. That represents a 0.5% gain in employment, far outpacing what was done nationally.
The household survey was less optimistic. The unemployment rate rose to 3.3% with the labor force participation rate staying flat. The rate remains one of the highest in the nation, though.
Leisure and hospitality, education and health services, and professional and business services were the top gaining categories. Another bit of good news is a positive revision to July’s figure. What was initially thought to be a loss of 1,100 jobs was actually a gain of 2,500 instead.
Minnesota has added jobs in nine of the last 12 months.
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