Unemployment rate stays at 2.8 percent in Minnesota as job growth slows

For the third straight month, Minnesota's unemployment rate remained near historic lows in November though hiring stalled and job growth lagged what was seen last year or around the country.

The state's unemployment rate in November held at 2.8 percent, a rate it has maintained since September and the lowest level the state has seen since May 1999, according to the state jobs agency. The U.S. jobless rate was 3.7 percent in November, also unchanged.

"Maintaining this historically low unemployment rate is a sign of the state's economic stability," said Shawntera Hardy, commissioner of the Minnesota Department of Employment and Economic Development, in a statement.

The market of nearly 3 million jobs lost 800 last month. October's previously reported gain of 3,400 jobs was revised to 2,500 jobs gained.

As of November, Minnesota has added 33,460 total jobs over the last 12 months for an annual growth rate of 1.1 percent, down from 1.2 percent the previous year. Nationally the total labor force grew 1.6 percent for the same time period.

Earlier this year, data showed Minnesota employers were hiring at a faster pace than the country as a whole but hiring momentum slowed this fall.

While in 2017 health care and education employers led hiring in Minnesota, the education and health care sector lost 2,700 jobs last month. Other service firms, government, logging and mining companies and information organizations also reported job losses.

Job gains were led by the leisure and hospitality and professional-services industries.

Most of the state's five metropolitan areas showed job growth in November, with Mankato continuing to lead the way with a 2.6 percent increase in employment over the last year. The Twin Cities was second, with a gain of 1.8 percent. Rochester was the only area with a dip with a reported 0.5 percent decline since last November.

Nicole Norfleet • 612-673-4495 Twitter: @nicolenorfleet