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Minnesota's jobless rate hold steady

Minnesota’s jobless rate held steady at 3.7 percent in January, according to figures released Thursday by the Minnesota Department of Employment and Economic Development (DEED). The U.S. unemployment rate was 4.9 percent in January.

State employers eliminated 5,000 jobs during the month, including 3,800 jobs in the government sector. However, during the past year Minnesota has gained 39,916 jobs, a growth rate of 1.4 percent. The U.S. growth rate during that period was 1.9 percent.

“Despite job losses in January, the state labor market remains on a growth track, with eight of the 11 major industrial sectors adding jobs over the past year,” said DEED Commissioner Katie Clark Sieben. “The state’s labor force participation rate of 70.5 percent is now at a three-year high.”

Education and health services led all sectors in January with 3,000 new jobs. Construction (up 1,900) and leisure and hospitality (up 900) also gained jobs.

Along with government, other sectors that reduced employment during the month were trade, transportation and utilities (down 2,100), information (down 1,800), professional and business services (down 1,600), manufacturing (down 900), other services (down 300), financial activities (down 200), and logging and mining (down 100).

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