Minnesota Job Openings Rise as Wages Fall 0.5% and Workforce Shrinks for 6 Months
Updated
Updated · KSTP · Jun 19
Minnesota Job Openings Rise as Wages Fall 0.5% and Workforce Shrinks for 6 Months
3 articles · Updated · KSTP · Jun 19
Summary
Minnesota’s May labor report paired more available jobs with weaker worker conditions: average hourly pay fell 0.5% from a year earlier and the labor force shrank for a sixth straight month.
5,400 nonfarm jobs were added in May and unemployment edged down to 4.4%, but both employed and unemployed counts fell, suggesting fewer Minnesotans are staying in or entering the workforce.
67.2% labor-force participation and the wage drop may reflect retirements and a shift toward lower-paying blue-collar hiring, while finance and other white-collar sectors contracted.
4.2% inflation outpaced both Minnesota wage growth and the U.S. pay gain of 3.5%, squeezing household budgets even as health care, education, childcare and construction remain strong hiring areas.