What are the forces moving the Minnesota economy? Adam Belz tries to identify the trends and show the connections between Minnesota and the larger U.S. and global economies. You can connect with him on Twitter: @adambelz
Minnesota employers shed 4,200 jobs in April, according to figures released Thursday by the Minnesota Department of Employment and Economic Development (DEED). March figures were revised downward from 2,600 jobs gained to 700 jobs gained.
“While hiring slowed in April, the overall trend remains positive, with all but one of the state’s industrial sectors adding jobs over the past year,” said DEED Commissioner Katie Clark Sieben.
The unemployment rate ticked downward to 4.7 percent in April.
The big disappointment was construction, an industry which showed promise of a spring rebound in March but lost 2,200 jobs in April.
“These monthly numbers are certainly a disappointment,” said Steve Hine, labor market economist for the state. “It’s also disconcerting that it’s the fourth consecutive month of subpar job growth. It’s too early to call it a sustained slowdown, but you’re starting to stretch it when you call it a temporary pause.”
One bright spot in April was manufacturing, which added 2,400 jobs in April to total 315,000 jobs, its highest level since February 2009.
Construction and professional and business services both shed 2,200 jobs, leisure and hospitality, financial activities and education and health services also saw decreases.
The state has added nearly 42,000 jobs in the past year, a growth rate of 1.5 percent, slower than the U.S. growth rate of 1.7 percent during that period.
Over the past 12 months, the only sector to lose jobs has been financial activities, which is down 1,325 positions.
In the Metropolitan Statistical Areas, all five regions gained jobs in the past 12 months: Mankato was up 3.1 percent, St. Cloud was up 2.9 percent, Minneapolis-St. Paul was up 1.6 percent, Duluth-Superior was up 0.5 percent and the Rochester was up 0.3 percent.