Overall unemployment rate moved up to 4.0% with the biggest shift in Transportation & Utilities, which lost 1,000 roles, based on the most recently available information published in March 2021.
Total employment in the Fargo, ND-MN market declined by 4,853 jobs in January and the unemployment rate increased compared to the prior month by 90 bps to 4.0%. The national unemployment rate increased by 31 bps over the same time to 6.8%.
- Fargo, ND-MN unemployment rate is 281 bps below the national rate which is a positive sign.
- Unemployment in the market is 120 bps above the unemployment rate in the market last year at this time, which is a negative.
- Average wages (per hour) declined in January versus prior month by -1.0% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs declined by -2.0%. Key sectors include:
- Transportation & Utilities: 30,100; -1,000
- Education & Healthcare: 27,100; -200
- Government: 18,200; -600
- Business Services: 13,000; -400
- Financial Services: 11,700; -100
- Restaurants & Hotels: 11,400; -100
- Manufacturing: 10,200; +200
- Construction, Mining: 8,600; -500
- Other Jobs: 4,800; no change
- IT & Development: 2,900; -100
Data is based on the most recent 12 months available, through January 2021 (Data published March 2021 and reports created on March 25, 2021). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.