Minnesota Posts Strong Job Growth to Start 2022

Minnesota gained 10,200 jobs in the last month on a seasonally adjusted basis, according to numbers released today by the Minnesota Department of Employment and Economic Development (DEED). This follows the addition of 2,500 jobs in December 2021 (revised). The jobs growth from December 2021 to January 2022 is the largest single-month growth since July 2021. The private sector gained 9,100 jobs, up 0.4%, continuing a four-month-long job gains streak.

The unemployment rate ticked down in January 2022 to 2.9% from 3.0% in December 2021. The decline was entirely due to people moving from unemployment to employment. The labor force participation rate rose from 67.3% in December 2021 (revised) to 67.6% January 2022, up three-tenths of a percentage point. Nationally, the unemployment rate rose one-tenth of a percentage point to 4.0% and the labor force participation rate also rose three-tenths of a percentage point to 62.2% (revised).

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