Overall unemployment rate moved up to 4.5% with the biggest shift in Restaurants & Hotels, which gained 8,800 roles, based on the most recently available information published in July 2021.
Total employment in the Minneapolis-St. Paul-Bloomington, MN-WI market declined by 11,936 jobs in June and the unemployment rate increased compared to the prior month by 70 bps to 4.5%. The national unemployment rate increased by 60 bps over the same time to 6.1%.
- Minneapolis-St. Paul-Bloomington, MN-WI unemployment rate is 159 bps below the national rate which is a positive sign.
- Unemployment in the market is 500 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in June versus prior month by 3.1% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 1.3% . Key sectors include:
- Transportation & Utilities: 343,900; +3,100
- Education & Healthcare: 331,300; +300
- Business Services: 319,300; +4,000
- Government: 240,900; +600
- Manufacturing: 195,200; +2,800
- Restaurants & Hotels: 162,700; +8,800
- Financial Services: 157,500; -600
- Construction, Mining: 90,900; +2,700
- Other Jobs: 74,200; +2,100
- IT & Development: 31,100; +400
Data is based on the most recent 12 months available, through June 2021 (Data published July 2021 and reports created on July 28, 2021). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.