Nevada’s unemployment rate fell to 6.6 percent in October, the lowest since June 2008.
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Minnesota’s unemployment rate falls to 3.7 percent even as the state loses more jobs.
Connecticut’s private sector employment declined only by 400 jobs in October and still has added 23,800 positions over the year.
The state’s labor force participation rate, which measures the number of people employed or actively seeking work, continues to best the national rate, 63.5 percent to 62.4 percent.
Construction, once a pillar of the state’s economy, has gained 4,700 jobs over the past 12 months, which ranks seventh among the 11 major industrial sectors.
“The October figures suggest that tightening labor markets are beginning to constrain employment growth in Minnesota”, DEED Commissioner Katie Clark Sieben said in the release.
Among various employment sectors, professional and business services led the way in October with 8,600 jobs gained. The government sector was the largest contributor to losses in October. The manufacturing and financial activities industries faced losses of 1,700 and 700 respectively. “September to December increases in seasonal jobs measured around 10,000 prior to the recession; however those seasonal gains noticeably retracted during the recession and during the early part of the recovery”.
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The state revised September’s preliminary loss of 2,200 nonfarm jobs upward slightly to a loss of 1,400 jobs from August 2015 to September 2015 on a seasonally adjusted basis.
