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DEED: Minnesota saw job growth for 5th straight month in November

Morning headlines from Dec. 21, 2023
Morning headlines from Dec. 21, 2023 03:39

MINNEAPOLIS — Minnesota saw job growth for the fifth straight month in November, and outpaced the national average.

According to the Minnesota Department of Employment and Economic Development, the state gained 9,500 jobs, or 0.3% on a seasonally adjusted basis. The unemployment rate dropped a tenth of a percentage point to 3.1%. Over the past three months, Minnesota jobs have grown by 0.6%, which is much higher than the national rate of 0.2%.

"Minnesota continues to see sustained and notable job growth and we're consistently adding jobs at a faster rate than the national average, which is phenomenal news for workers," said DEED Commissioner Matt Varilek. 

The trade, transportation, and utilities sector gained the most jobs, along with education and health services, government and manufacturing. In the last year, the trade, transportation and utilities sector grew 2.8%, compared to 0.3% nationally. 

Over the past year, Minnesota gained nearly 48,000 jobs, up 1.6%, compared to 1.8% nationally. 

MORE: U.S. labor market is still robust with nearly 200,000 jobs created in November

The state average hourly wage went up to $36.29 in November. Overall, average hourly earnings have increased 3.4% in the last year, and are up 13.2% over the last three years. Nationally, the average hourly wage is $33.99, up 4% over the past year and 14.2% over the last three years.

The wage growth has generally kept up with inflation over the last six months, according to DEED.

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