Minnesota Recovers 90% of Jobs Lost During Recession

By KBJR News 1

Minnesota Recovers 90% of Jobs Lost During Recession

March 5, 2013 Updated Mar 5, 2013 at 12:01 PM CDT

St. Paul, MN (NNCNOW.com) --- A new jobs report out today suggests that Minnesota has recovered nearly 90% of the jobs lost during the recession.

Minnesota employers added 12,100 jobs in January, according to the Minnesota Department of Employment and Economic Development (DEED).

The new report also revised figures from the federal Bureau of Labor Statistics showing the state gained 16,700 more jobs over the previous 21 months than originally reported.

January's job gains combined with the revised federal figures suggests that the state has recovered nearly 90% of the 160,000 jobs that were lost during the Great Recession, with 50,000 jobs added over the past year.

"The Minnesota labor market is staging a robust comeback, with all 11 industrial sectors showing year-over-year growth rates for the first time since 2000," said DEED Commissioner Katie Clark Sieben. "At the current pace of job growth, we soon will have recovered all the jobs that were lost in the recession."

However, the state's unemployment rate climbed to a seasonally adjusted 5.6% in January from a revised 5.4% in December. This is still well below the U.S. unemployment rate of 7.9%.

Trade, transportation and utilities led all sectors in January, adding 4,100 jobs.

Other gains occurred in construction (up 2,600), leisure and hospitality (up 1,700), government (up 900), other services (up 900), education and health care (up 700), manufacturing (up 600), information (up 400), professional and business services (up 200), and logging and mining (up 100).

Financial activities was the only sector that lost jobs in January, down 100.

Even the Duluth-Superior region saw a 1.1% jobs gain in the past 12 months.

Posted to the web by Krista Burns