Overall unemployment rate moved down to 2.2% with the biggest shift in Transportation & Utilities, which gained 7,600 roles, based on the most recently available information published in December 2021.
Total employment in the Minneapolis-St. Paul-Bloomington, MN-WI market rose by 14,294 jobs in November and the unemployment rate decreased compared to the prior month by 40 bps to 2.2%. The national unemployment rate decreased by 37 bps over the same time to 3.9%.
- Minneapolis-St. Paul-Bloomington, MN-WI unemployment rate is 169 bps below the national rate which is a positive sign.
- Unemployment in the market is 220 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in November versus prior month by 4.3% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 0.1% . Key sectors include:
- Transportation & Utilities: 352,000; +7,600
- Education & Healthcare: 330,800; +1,800
- Business Services: 327,000; +1,500
- Government: 240,800; -800
- Manufacturing: 199,300; -100
- Restaurants & Hotels: 157,700; -3,700
- Financial Services: 156,500; -800
- Construction, Mining: 89,000; -4,700
- Other Jobs: 72,400; +700
- IT & Development: 30,300; -300
Data is based on the most recent 12 months available, through November 2021 (Data published December 2021 and reports created on January 6, 2021). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.