Rochester Area Loses More Than 730 Jobs in September
Rochester, MN (KROC-M News) - The Rochester-area economy experienced a net loss of hundreds of jobs last month.
Rochester Area Employment Declines Year Over Year
The latest jobs report from the Minnesota Department of Employment and Economic Development shows overall employment in the Rochester metropolitan statistical area declined by more than 730 jobs in September compared with September of last year. That amounts to a negative job growth rate of six-tenths of a percentage point, following several months of nearly stagnant job growth.
Twin Cities Report Job Gains While Other Metro Areas Lose Jobs
Most of Minnesota’s metropolitan areas also reported year-over-year job losses in September. Duluth lost more than 1,200 jobs, St. Cloud saw employment fall by nearly 1,150 jobs, and Mankato reported a net loss of more than 300 jobs.
The Twin Cities area was the only metropolitan area to report job gains. Overall employment increased by more than 22,000 jobs, for a job growth rate of 1.1%.
Manufacturing and Health Services Lead Statewide Job Growth
Statewide, the job growth rate in September was 1.2%, with a year-over-year gain of more than 35,000 jobs. The employment sectors with the largest job gains over the past year were manufacturing, education and health services, and construction.
Nationally, the job growth rate in September was just three-tenths of a percentage point.
Minnesota Reports Monthly Job Losses on a Seasonally Adjusted Basis
For September, the state agency reported that, on a seasonally adjusted basis, Minnesota lost approximately 4,600 jobs. Gains in manufacturing, construction, and hospitality were offset by losses in education and health services, as well as professional and business services.
State Unemployment Rate Rises as Labor Force Participation Falls
Minnesota’s seasonally adjusted unemployment rate increased by one-tenth of a percentage point last month to 4.5%, which was three-tenths of a percentage point above the national rate. A year ago, Minnesota’s jobless rate was 4.1%.
The report also notes that Minnesota’s labor force increased by about 840 people, while the labor force participation rate fell by one-tenth of a percentage point to 66.7% last month.
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Gallery Credit: Ken Hayes
