November 2024 – Employment Trends

Versique

January 1, 2025

November 2024 Employment Trends show Minnesota’s unemployment rate increased one-tenth of a percentage point to 3.5%, lower than the national rate of 4.2%, which also rose at the same rate.

According to data from the Minnesota Department of Employment and Economic Development (DEED), Minnesota’s unemployment rate increased one-tenth of a percentage point to 3.5%, lower than the national rate of 4.2%, which also rose at the same rate. The labor force participation rate rose one-tenth of a percentage point to 67.8% over the month, compared to 62.5% nationally – a decline over the month before. “November was another strong month for Minnesota’s jobs market. Employers added staff and more Minnesotans started looking for work,” said DEED Commissioner Matt Varilek. “As we look to the new year, DEED will work with our private sector, nonprofit, and government partners to build on this positive labor market momentum.”

November 2024 – Employment Rate

Lost Jobs & Industries Affected

-1,900 Professional & Business Services
-1,500 Leisure & Hospitality
-1,200 Manufacturing
-800 Trade & Utilities

Minnesota’s unemployment rate increased one-tenth of a percentage point to 3.5%, lower than the national rate of 4.2%, which also rose at the same rate. The labor force participation rate rose one-tenth of a percentage point to 67.8% over the month, compared to 62.5% nationally – a decline over the month before.

*Data from US Bureau of Labor Statistics

November 2024 – Open Jobs

Gained Jobs & Industries Affected

+4,900 Education & Health Services
+2,800 Construction
+800 Government
+400 Other Services

“Minnesota’s labor market is balancing out,” said DEED Labor Market Information Director Angelina Nguyen. “More Minnesotans are working, looking for work or simply want to work, and there are good jobs available for them in industries across our economy.”

*Data from MN Employment and Economic Development

Key News & Trends

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Indeed’s 2025 US Jobs & Hiring Trends Report Learn more!
2025 Minnesota Employment Law Updates Learn more!

Versique / About Author

Versique Executive, Professional, & Interim Recruiting is a locally owned and operated hiring and placement firm based in the Twin Cities of Minnesota. With 13 specialized practice areas across our three divisions, Versique delivers tailored expertise to a wide range of industries. What sets us apart is our team of recruiters—seasoned professionals who have worked in the very fields they now hire for, providing unmatched industry insight and connections.

Versique is nationally and locally award-winning, earning recognition on the Inc. 5000 list of fastest-growing private companies and the Minneapolis-St. Paul Business Journal’s Fast 50 list for 2023. We are also consistently recognized as a Star Tribune Top Workplace and were named a Best Place to Work in 2022 by the Minneapolis/St. Paul Business Journal.