After increasing in July, the local labor market contracted by 2,000 workers in August. Along with that employment held flat, still near a historic high. As a result, unemployment edged down 40 basis points to 3.3 percent.

1. Total jobs vs. unemployment rate: MSP
Source: JLL Research, Bureau of Labor Statistics
Job growth/loss by sector (12-month change): MSP
Source: JLL Research, Bureau of Labor Statistics
Industrial employment trends (12-month change): MSP
Source: JLL Research, Bureau of Labor Statistics
• After increasing in July, the local labor market contracted by 2,000 workers in
August. Along with that employment held flat, still near a historic high. As a
result, unemployment edged down 40 basis points to 3.3 percent.
• As is typically the case, MSP’s office-using sectors dominated the hiring by
taking 39.7 percent of the 12-month total employment growth while the
industrial sectors accounted for 8.3 percent of the annual growth.
• Nationally, September’s jobs figures were below expectations, with only
142,000 jobs added and August downwardly revised to 136,000.
• Office-using industries contributed just 43,000 jobs to September’s growth,
continuing a trend of somewhat muted office-using employment gains. After
a few months of improving fundamentals, the financial activities subsector
saw no new growth, while previously lagging information grew by 12,000 net
new jobs. Due to the national slowdown in growth, this kept office-using
industries’ contribution to national gains at 30.3 percent.
Employment Update
Minneapolis-St. Paul | October 2015
5.1%U.S. unemployment
2.2%U.S. 12-month job growth
3.3%MSP unemployment
1.9%MSP 12-month job growth
4.0%Minnesota unemployment
1.2%Minnesota 12-month job growth
0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
6.0%
7.0%
8.0%
9.0%
1,550,000
1,600,000
1,650,000
1,700,000
1,750,000
1,800,000
1,850,000
1,900,000
1,950,000
2005 2007 2009 2011 2013 2015
Peak: 1,890,385 jobs
3.0%
unemployment rate
total jobs
-2,000
-1,800
-500
1,000
1,800
2,200
3,900
9,000
9,700
12,700
Other Services
Government
Information
Trade, Transportation & Utilities
Manufacturing
Mining and Logging
Financial Activities
Leisure & Hospitality
Educational & Health Services
Professional & Business Services
Number of Jobs
Office employment trends (12-month change): MSP
Source: JLL Research, Bureau of Labor Statistics
-20.0
-10.0
0.0
10.0
20.0
2011 2012 2013 2014 2015
Professional & Business Services
Information
Government
Financial Activities
-5.0
5.0
15.0
2011 2012 2013 2014 2015
Trade, Transportation & Utilities Manufacturing
Other Services Mining, Logging & Construction

2. Industry employment stratification
Minneapolis-St. Paul
Source: JLL Research, Bureau of Labor Statistics
©2015 Jones Lang LaSalle IP, Inc. All rights reserved.
Employment statistics
Minneapolis-St. Paul
August 2013 August 2014 July 2015
Total Non-farm
Employment
1,864,800
2.2%
1,911,700
2.5%
1,947,700
1.9%
Unemployment Rate 4.9% 3.9% 3.7%
MSP supersectors August 2013 August 2014 August 2015
Mining, Logging & Construction 74,800 10.0% 79,400 6.1% 81,600 2.8%
Manufacturing 188,300 0.4% 193,700 2.9% 195,500 0.9%
Trade, Transportation,
& Utilities
340,300 2.2% 346,300 1.8% 347,300 0.3%
Information 40,500 -1.0% 40,100 -1.0% 39,600 -1.2%
Financial Activities 146,400 1.4% 146,700 0.2% 150,600 2.7%
Professional & Business
Services
297,300 2.0% 304,000 2.3% 316,700 4.2%
Educational & Health Services 296,900 4.4% 304,200 2.5% 313,900 3.2%
Leisure & Hospitality 180,500 3.0% 186,800 3.5% 195,800 4.8%
Other Services 80,100 0.6% 81,100 1.2% 79,100 -2.5%
Government 219,700 0.0% 229,400 4.4% 227,600 -0.8%
18%
16%
16%12%
10%
10%
8%
4%
4% 2%
Trade, transportation and Utilities Professional and Business Services
Educational and Health Services Government
Manufacturing Leisure and Hospitality
Financial Activities Mining, Logging and construction
Other Services Information
For more information, please contact:
Carolyn Bates │ carolyn.bates@am.jll.com
C