Overall unemployment rate moved down to 1.7% with the biggest shift in Government, which lost 1,900 roles, based on the most recently available information published in August 2022.
Total employment in the Fargo, ND-MN market rose by 822 jobs in July and the unemployment rate decreased compared to the prior month by 40 bps to 1.7%. The national unemployment rate decreased by 5 bps over the same time to 3.8%.
- Fargo, ND-MN unemployment rate is 208 bps below the national rate which is a positive sign.
- Unemployment in the market is 90 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 8.2% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs declined by -0.7%. Key sectors include:
- Transportation & Utilities: 31,500; +300
- Education & Healthcare: 28,400; +200
- Government: 16,800; -1,900
- Business Services: 16,000; no change
- Restaurants & Hotels: 13,200; -100
- Financial Services: 11,200; no change
- Manufacturing: 10,700; +100
- Construction, Mining: 10,000; +300
- Other Jobs: 5,100; no change
- IT & Development: 2,800; no change
Data is based on the most recent 12 months available, through July 2022 (Data published August 2022 and reports created on September 2, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.