Minnesota lost 4,000 jobs in November, which caused the pace of annual job growth in the state to slip below the U.S. rate, the Minnesota Department of Employment and Economic Development (DEED) reported Thursday.
Of the 4,000 net positions eliminated last month, losses in leisure and hospitality led the decline as hotel and restaurants let go or lost to retirement 7,500 workers. Other sectors shedding workers included "other services," which lost 1,500 employees. Manufacturing and information each lost 700 jobs.
While job losses dominated the month, there were industries that increased hiring last month. Those gains were led by trade, transportation and utilities, which gained 2,300 jobs, as well as construction and professional/business services, which each added 1,800.
A quick glimpse of DEED's report could suggest possible trouble, but DEED officials said they were not concerned and noted that November often shows seasonally adjusted job losses that are recouped in subsequent months.
DEED officials also noted that the job market is strong and that most displaced Minnesotans are soon able to find replacement work. November marked the 101st month of economic expansion since the Great Recession.
Other economic reports issued this month signal that corporations are enjoying revenue and profit gains and many are also increasing payroll.
"While the state lost jobs in November, Minnesotans are continuing to find work in an improving economy," DEED Commissioner Shawntera Hardy said in a statement.
She also noted that Minnesota's total employment numbers are up for the year. The state added more than 34,500 jobs over the past year, reflecting a 1.2 percent gain.
