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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
• Minneapolis-St. Paul’s unemployment rose to 3.9 percent, according to the
most recent estimates available from the BLS. Although still 100 basis points
lower than the national rate, this month is the first time since July 2015 that
the metro unemployment rate is higher than the state of Minnesota’s.
• Industrial sectors were responsible for 26.7 percent of the 12-month total
employment growth, outperforming office-using sectors which saw 19.6
percent of total growth. Trade, transportation, and utilities added 3,200 jobs
year-over-year and drove the bulk of industrial growth throughout 2015.
• Although national year-to-date figures are down compared to 2015, January
saw significant upward revisions to 172,000 jobs, improving the year’s initial
performance. Despite global tensions and economic shifts, the U.S. economy
seems to be holding its own, although certain sectors such as energy and
trade could be impacted by fluctuations in domestic and international
demand.
Employment Update
Minneapolis-St. Paul | March 2016
4.9%U.S. unemployment
1.9%U.S. 12-month job growth
3.9%MSP unemployment
1.7%MSP 12-month job growth
3.7%Minnesota unemployment
1.3%Minnesota 12-month job growth
Office employment trends (12-month change): MSP
Source: JLL Research, Bureau of Labor Statistics
0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
6.0%
7.0%
8.0%
9.0%
1,550,000
1,650,000
1,750,000
1,850,000
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
Total Employment
Unemployment
-100
1,300
1,300
1,700
2,300
2,500
2,900
3,200
5,700
11,800
Information
Mining and Logging
Manufacturing
Government
Financial Activities
Professional & Business Services
Other Services
Trade, Transportation & Utilities
Leisure & Hospitality
Educational & Health Services
Peak: 1,891,323 jobs
-20.0
-10.0
0.0
10.0
20.0
30.0
2011 2012 2013 2014 2015 2016
Financial Activities
Professional and Business Services
Information
Government
In thousands
-5.0
0.0
5.0
10.0
15.0
20.0
25.0
2011 2012 2013 2014 2015 2016
Mining, Logging & Construction
Trade, Transportation & Utilities
Manufacturing
Other Services
In thousands
Industry employment stratification
Minneapolis-St. Paul
Source: JLL Research, Bureau of Labor Statistics
©2016 Jones Lang LaSalle IP, Inc. All rights reserved.
Employment statistics
Minneapolis-St. Paul
January 2014 January 2015 January 2016
Total Non-farm
Employment
1,843,000
1.6%
1,876,000
1.8%
1,908,600
1.7%
Unemployment Rate 4.9% 4.1% 3.9%
MSP supersectors January 2014 January 2015 January 2016
Mining, Logging & Construction 59,300 10.4% 64,100 8.1% 65,400 2.0%
Manufacturing 186,400 1.1% 191,500 2.7% 192,800 0.7%
Trade, Transportation,
& Utilities
337,800 1.3% 342,900 1.5% 346,100 0.9%
Information 39,600 -1.5% 38,700 -2.3% 38,600 -0.3%
Financial Activities 144,300 0.2% 145,700 1.0% 148,000 1.6%
Professional & Business
Services
289,200 1.6% 295,200 2.1% 297,700 0.8%
Educational & Health Services 301,400 2.4% 307,500 2.0% 319,300 3.8%
Leisure & Hospitality 163,100 1.9% 167,100 2.5% 172,800 3.4%
Other Services 77,300 -0.3% 77,200 -0.1% 80,100 3.8%
Government 244,600 1.5% 246,100 0.6% 247,800 0.7%
18%
17%
16%13%
10%
9%
8%
4%
3% 2%
Trade, transportation and Utilities Educational and Health Services
Professional and Business Services Government
Manufacturing Leisure and Hospitality
Financial Activities Other Services
Mining, Logging and construction Information
For more information, please contact:
Carolyn Bates │ carolyn.bates@am.jll.com

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Minneapolis–St. Employment Update | March 2016

  • 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 • Minneapolis-St. Paul’s unemployment rose to 3.9 percent, according to the most recent estimates available from the BLS. Although still 100 basis points lower than the national rate, this month is the first time since July 2015 that the metro unemployment rate is higher than the state of Minnesota’s. • Industrial sectors were responsible for 26.7 percent of the 12-month total employment growth, outperforming office-using sectors which saw 19.6 percent of total growth. Trade, transportation, and utilities added 3,200 jobs year-over-year and drove the bulk of industrial growth throughout 2015. • Although national year-to-date figures are down compared to 2015, January saw significant upward revisions to 172,000 jobs, improving the year’s initial performance. Despite global tensions and economic shifts, the U.S. economy seems to be holding its own, although certain sectors such as energy and trade could be impacted by fluctuations in domestic and international demand. Employment Update Minneapolis-St. Paul | March 2016 4.9%U.S. unemployment 1.9%U.S. 12-month job growth 3.9%MSP unemployment 1.7%MSP 12-month job growth 3.7%Minnesota unemployment 1.3%Minnesota 12-month job growth Office employment trends (12-month change): MSP Source: JLL Research, Bureau of Labor Statistics 0.0% 1.0% 2.0% 3.0% 4.0% 5.0% 6.0% 7.0% 8.0% 9.0% 1,550,000 1,650,000 1,750,000 1,850,000 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Total Employment Unemployment -100 1,300 1,300 1,700 2,300 2,500 2,900 3,200 5,700 11,800 Information Mining and Logging Manufacturing Government Financial Activities Professional & Business Services Other Services Trade, Transportation & Utilities Leisure & Hospitality Educational & Health Services Peak: 1,891,323 jobs -20.0 -10.0 0.0 10.0 20.0 30.0 2011 2012 2013 2014 2015 2016 Financial Activities Professional and Business Services Information Government In thousands -5.0 0.0 5.0 10.0 15.0 20.0 25.0 2011 2012 2013 2014 2015 2016 Mining, Logging & Construction Trade, Transportation & Utilities Manufacturing Other Services In thousands
  • 2. Industry employment stratification Minneapolis-St. Paul Source: JLL Research, Bureau of Labor Statistics ©2016 Jones Lang LaSalle IP, Inc. All rights reserved. Employment statistics Minneapolis-St. Paul January 2014 January 2015 January 2016 Total Non-farm Employment 1,843,000 1.6% 1,876,000 1.8% 1,908,600 1.7% Unemployment Rate 4.9% 4.1% 3.9% MSP supersectors January 2014 January 2015 January 2016 Mining, Logging & Construction 59,300 10.4% 64,100 8.1% 65,400 2.0% Manufacturing 186,400 1.1% 191,500 2.7% 192,800 0.7% Trade, Transportation, & Utilities 337,800 1.3% 342,900 1.5% 346,100 0.9% Information 39,600 -1.5% 38,700 -2.3% 38,600 -0.3% Financial Activities 144,300 0.2% 145,700 1.0% 148,000 1.6% Professional & Business Services 289,200 1.6% 295,200 2.1% 297,700 0.8% Educational & Health Services 301,400 2.4% 307,500 2.0% 319,300 3.8% Leisure & Hospitality 163,100 1.9% 167,100 2.5% 172,800 3.4% Other Services 77,300 -0.3% 77,200 -0.1% 80,100 3.8% Government 244,600 1.5% 246,100 0.6% 247,800 0.7% 18% 17% 16%13% 10% 9% 8% 4% 3% 2% Trade, transportation and Utilities Educational and Health Services Professional and Business Services Government Manufacturing Leisure and Hospitality Financial Activities Other Services Mining, Logging and construction Information For more information, please contact: Carolyn Bates │ carolyn.bates@am.jll.com