Updated · University of St. Thomas Newsroom · Jun 23
Minnesotans Working Shrinks for 6 Months as Average Hourly Wage Drops 0.5%
Updated
Updated · University of St. Thomas Newsroom · Jun 23
Minnesotans Working Shrinks for 6 Months as Average Hourly Wage Drops 0.5%
2 articles · Updated · University of St. Thomas Newsroom · Jun 23
Summary
Six straight months of declines in the number of Minnesotans working marked the latest labor report, even as the state added jobs and the number of unemployed people fell.
0.5% lower average hourly wages in May from a year earlier reflected a shift toward growing blue-collar sectors such as leisure and hospitality while white-collar areas including finance contracted.
4.2% inflation outpaced both Minnesota's wage decline and the 3.5% rise in U.S. pay, deepening the squeeze on workers' real earnings.
DEED said it still does not know why more residents are leaving the labor force, leaving a key question over whether the state's mixed labor picture will weaken hiring and consumer spending.