January 25, 2022
Summary
Minnesota lost 2,000 net payroll jobs and the unemployment rate fell by 0.2 percentage point to 3.1 percent in December, according to Bureau of Labor Statistics (BLS) data released at 10:00am on January 25, 2022.
Over the past twelve months, Minnesota added 167,800 payroll jobs and the unemployment rate fell by 1.6 percentage points from 4.7 percent.
In December, Minnesota’s private sector lost 2,200 net private payroll jobs and over the past twelve months it added 161,700 private payroll jobs in the establishment survey.
In the household survey, the number of unemployed fell by 6,324 on net in December, and over the past year employment rose by 31,731.
Minnesota’s labor force participation rate remained steady at 67.7 percent in December . Since last year, the labor force participation rate fell by 0.7 percentage point.
The national unemployment rate fell by 0.3 percentage point in December to 3.9 percent. State employment and unemployment data for January is scheduled for release March 14, 2022. The national employment situation report for January will be released February 04, 2022.
Minnesota Payroll Employment
Minnesota lost 2,000 net payroll jobs, or -0.1 percent, on a seasonally adjusted basis during December. In the prior month, Minnesota added 13,600 jobs. Over the past twelve months, Minnesota added 167,800 payroll jobs, or 6.2 percent. Minnesota nonfarm payroll employment had increased in 11 of the past 12 months.
Nationally, nonfarm payrolls rose by 199,000 in December, or rose by 0.1 percent. Over the 12-month period ending with December, nonfarm payrolls rose by 6,448,000 jobs, or 4.5 percent. Minnesota ranks 5th among the 50 states and the District of Columbia for percentage gain in nonfarm payroll employment over the past 12 months.
During December, Minnesota’s private-sector lost 2,200 jobs, or approximately -0.1 percent. The private-sector in Minnesota added 14,800 jobs in the prior month. Over the past twelve months, private-sector payrolls in Minnesota added 161,700, or 7 percent. Minnesota private-sector payroll employment has increased in 11 of the past 12 months.
Nationally, private-sector payroll jobs rose by 211,000 jobs in December, or 0.2 percent. Over the past 12 months, the national payroll rose by 5,996,000 jobs in the private sector, or 5 percent. Minnesota ranks 4th among the 50 states and the District of Columbia for a percentage gain in private-sector payroll employment over the past 12 months.
The best performing sectors on a seasonally adjusted basis during December were Education and Health Services (1,800) and Other Services (400). The poorest performing sectors during the month were Manufacturing (-900) and Professional and Business Services (-1,800).
The best performing sectors during the last twelve months were Leisure and Hospitality (95,200) and Professional and Business Services (20,900). The poorest performing sectors during the last twelve months were Mining and Logging (0) and Financial Activities (-5,000).
Minnesota Labor Force Statistics
Labor Force Participation
The labor force participation rate in Minnesota remained unchanged at 67.7 percent in December . At a labor force participation rate of 67.7 percent, Minnesota ranks 7th in the nation. The labor force participation rate in Minnesota fell by 0.7 percentage point from a year earlier. The labor force participation rate is the percentage of the civilian noninstitutionalized population age 16 and older who are employed or actively looking for work.
The 10-year high for the labor force participation rate in Minnesota was 71.5 percent in June 2020. The series high for the labor force participation rate in Minnesota last occurred in March 2001 when the labor force participation rate hit 75.7 percent. The 10-year low for the labor force participation rate was 67.7 percent , last occurring in December 2021. The series low for the labor force participation rate in Minnesota last occurred in April 1976 when the labor force participation rate hit 65.4 percent.
The national labor force participation rate remained steady at 61.9 percent in December. That rate rose by 0.4 percentage point from a year earlier. The all-time high for the national labor force participation rate was 67.3 percent in April 2000. The 10-year high for the national labor force participation rate was 63.8 percent in October 2012. The recent 10-year low occurred in April 2020 at a level of 60.2 percent. The series low for the national labor force participation rate was 58.1 percent in December 1954.
Employment-to-Population Ratio
The employment-to-population ratio, or the percentage of the Minnesota civilian noninstitutionalized population 16 years and older counted as employed, in December rose to 65.6 from 65.5 percent in the prior month. At 65.6 percent, Minnesota ranks 6th among state employment-to-population ratios in the nation. The employment-to-population ratio in Minnesota rose by 0.4 percentage point from a year earlier.
The 10-year high for the employment-to-population ratio in Minnesota was 68 percent last occurring in January 2020. The series high for the employment-to-population ratio in Minnesota last occurred in March 2001 when the employment-to-population ratio hit 73.1 percent. The 10-year low for the employment-to-population ratio was 61.6 percent in May 2020. The series low for the employment-to-population ratio in Minnesota last occurred in March 1976 when the employment-to-population ratio hit 61.5 percent.
The national employment-to-population ratio rose by 0.2 percentage point over the month to 59.5 percent in December. That rate rose by 2.1 percentage points from a year earlier. The all-time high for the national employment-to-population rato was 64.7 percent in April 2000. The 10-year high for the national employment-to-population ratio was 61.2 percent in February 2020. The recent 10-year low occurred in April 2020 at a level of 51.3 percent. The series low for the employment-to-population ratio was 51.3 percent in April 2020.