Overall unemployment rate moved down to 1.8% with the biggest shift in Restaurants & Hotels, which gained 700 roles, based on the most recently available information published in December 2021.
Total employment in the Fargo, ND-MN market rose by 112 jobs in October and the unemployment rate decreased compared to the prior month by 20 bps to 1.8%. The national unemployment rate decreased by 30 bps over the same time to 4.3%.
- Fargo, ND-MN unemployment rate is 246 bps below the national rate which is a positive sign.
- Unemployment in the market is 110 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in October versus prior month by 9% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 0.8% . Key sectors include:
- Transportation & Utilities: 31,000; +200
- Education & Healthcare: 27,500; +600
- Government: 19,900; +400
- Restaurants & Hotels: 14,600; +700
- Business Services: 14,100; no change
- Financial Services: 11,800; no change
- Construction, Mining: 10,300; -400
- Manufacturing: 10,100; -300
- Other Jobs: 5,000; +100
- IT & Development: 2,900; -100
Data is based on the most recent 12 months available, through October 2021 (Data published December 2021 and reports created on December 2, 2021). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.