Overall unemployment rate moved down to 3.5% with the biggest shift in Government, which lost 13,300 roles, based on the most recently available information published in September 2021.
Total employment in the Minneapolis-St. Paul-Bloomington, MN-WI market rose by 19,381 jobs in July and the unemployment rate decreased compared to the prior month by 100 bps to 3.5%. The national unemployment rate decreased by 43 bps over the same time to 5.7%.
- Minneapolis-St. Paul-Bloomington, MN-WI unemployment rate is 216 bps below the national rate which is a positive sign.
- Unemployment in the market is 480 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in July versus prior month by 3.8% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs declined by -0.2%. Key sectors include:
- Transportation & Utilities: 342,400; -1,400
- Education & Healthcare: 328,500; -2,800
- Business Services: 319,100; no change
- Government: 227,100; -13,300
- Manufacturing: 197,300; +2,500
- Restaurants & Hotels: 171,200; +7,500
- Financial Services: 159,700; +1,500
- Construction, Mining: 94,500; +2,700
- Other Jobs: 73,900; +100
- IT & Development: 31,000; +200
Data is based on the most recent 12 months available, through July 2021 (Data published September 2021 and reports created on September 1, 2021). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.