“The state is now seven-tenths of a percentage point lower than the national rate”.
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That mark is 2 percentage points lower over the year from February 2015 to February 2016, and now stands 0.6 of a percentage point lower than the national unemployment rate of 4.9 percent. “Minnesota continues to outpace the nation in employment rate, labor force participation and growth in major sectors including construction, finance and health care”.
The state’s total unemployment rate dropped to 4.5% in February from the January rate of 4.7%, the Executive Office of Labor and Workforce Development reported Thursday. Officials say the unemployment rate is increasing in IL primarily because more workers are entering the labor force. Government posted the greatest increase (+5,000). Greene says nearly all segments of the Iowa economy scaled in the month, with the private sector losing 5,000 jobs.
On the downside, however, private sector employment fell by 8,600 jobs from January, according to data from the U.S. Bureau of Labor Statistics. Most of the gains occurred in educational services (+800).
The trade, transportation and utility segment added about 3,500 jobs in February. Employment in leisure and hospitality increased 8,000. A majority of the expansion occurred in food services (+7,200).
Education and health services led all sectors in February with 4,900 new jobs.
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“Government was down 1,200 jobs due to a decline in local government”.
