Minnesota jobless rate falls; weekly US jobless aid claims rise
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Minnesota's jobless rate fell to 5.3 percent last month even as employers trimmed payrolls by 11,400 jobs last month, according to the Minnesota Department of Employment and Economic Development.
Minnesota's job loss in April stands in contrast to the growth in payrolls nationwide last month. U.S. employment grew by 165,000 jobs in April.
The unemployment rate has fallen to its lowest point since May 2008, and remains well below the U.S. rate of 7.5 percent.
Minnesota's employment drop in April is somewhat offset by an upward revision of the March tally. The March figures were revised from a loss of 5,200 jobs to 3,300 positions lost.
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Minnesota has gained 24,400 jobs over the past year, a growth rate of 1 percent, well behind the national growth rate of 1.6 percent during that period.
"While we've seen mixed results in the labor market in recent months, the overall outlook for jobs in Minnesota remains positive," said DEED Commissioner Katie Clark Sieben. "Eight of the state's 11 major industrial sectors have gained jobs in the past year, and the unemployment rate is at a five-year low."
Only two major industrial sectors posted job gains last month: information along with education and health care, each gaining 600 jobs. Logging and mining held steady.
Job losses occurred in trade, transportation and utilities (- 5,700), government (- 2,000), leisure and hospitality (- 1,900), manufacturing (- 1,100), other services (- 900), professional and business services (- 500), financial activities (- 400) and construction (- 100).
WEEKLY US JOBLESS AID CLAIMS RISE
The number of Americans seeking unemployment aid rose 32,000 last week to a seasonally adjusted 360,000, the most since late March. The jump comes after applications fell to a five-year low.
The Labor Department says the less volatile four-week average rose just 1,250 to 339,250, a level consistent with modest hiring.
Weekly applications are a proxy for layoffs. The big increase could mean companies are cutting more jobs, possibly because of steep government spending cuts that kicked in March 1. Labor officials said there were no special circumstances that caused the spike.
Applications tend to fluctuate sharply from week to week and economists typically focus more on the four-week average. That remains 9 percent lower than it was six months ago.
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(The Associated Press contributed to this report.)
