Overall unemployment rate moved up to 2.1% with the biggest shift in Government, which lost 1,000 roles, based on the most recently available information published in August 2022.
Total employment in the Fargo, ND-MN market rose by 1,162 jobs in June and the unemployment rate increased compared to the prior month by 50 bps to 2.1%. The national unemployment rate increased by 46 bps over the same time to 3.8%.
- Fargo, ND-MN unemployment rate is 174 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 June versus prior month by 8.6% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 1.0% . Key sectors include:
- Transportation & Utilities: 31,200; +200
- Education & Healthcare: 28,200; no change
- Government: 18,700; -1,000
- Business Services: 15,900; +700
- Restaurants & Hotels: 13,600; +800
- Financial Services: 11,200; -100
- Manufacturing: 10,600; +100
- Construction, Mining: 9,700; +500
- Other Jobs: 5,100; +200
- IT & Development: 2,800; no change
Data is based on the most recent 12 months available, through June 2022 (Data published August 2022 and reports created on August 3, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.