Minnesota employers logged a remarkable August as they recorded the largest monthly increase in jobs in two years, according to the Minnesota Department of Employment and Economic Development (DEED).
In August, employers added 14,400 jobs. Employment grew by 0.5% in the state, exceeding the national average of 0.1%, according to DEED's release. Unemployment rates increased to 3.3%, which still is lower than the national rate of 4.2%.
“We added the most jobs in a single month in two years, reflecting employers’ ongoing appetite to hire more workers,” DEED Commissioner Matt Varilek said in a statement. “September is Workforce Development Month in Minnesota, offering a reminder of the initiatives underway to invest in our economic future by recruiting and retaining workers and making sure Minnesota is creating the jobs of the future right here at home.”
Leisure and Hospitality jobs saw the most growth in Minnesota in August, increasing by 1.6%. Education and Health Services and Professional and Business Services also saw notable increases.
As for wages, DEED reported that the average private sector hourly wage is $37.74, which is a 5.9% increase over this year.
“Wage growth has consistently outpaced inflation, which is a good thing as we work to attract and retain talented workers for our labor force,” said Labor Market Information Director Angelina Nguyen in a statement.
