Overall unemployment rate moved up to 2.8% with the biggest shift in Transportation & Utilities, which lost 800 roles, based on the most recently available information published in March 2022.
Total employment in the Fargo, ND-MN market rose by 1,481 jobs in January and the unemployment rate increased compared to the prior month by 70 bps to 2.8%. The national unemployment rate increased by 74 bps over the same time to 4.4%.
- Fargo, ND-MN unemployment rate is 163 bps below the national rate which is a positive sign.
- Unemployment in the market is 120 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in January versus prior month by 12.8% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs declined by -2.5%. Key sectors include:
- Transportation & Utilities: 30,600; -800
- Education & Healthcare: 27,800; -100
- Government: 19,500; -500
- Business Services: 15,200; -300
- Restaurants & Hotels: 12,800; -500
- Financial Services: 11,500; -300
- Manufacturing: 10,400; -200
- Construction, Mining: 7,800; -700
- Other Jobs: 4,800; -100
- IT & Development: 2,800; -100
Data is based on the most recent 12 months available, through January 2022 (Data published March 2022 and reports created on March 18, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.