Overall unemployment rate moved up to 2.7% with the biggest shift in Business Services, which lost 400 roles, based on the most recently available information published in April 2022.
Total employment in the Fargo, ND-MN market declined by 2,215 jobs in March and the unemployment rate increased compared to the prior month by 30 bps to 2.7%. The national unemployment rate decreased by 39 bps over the same time to 3.8%.
- Fargo, ND-MN unemployment rate is 105 bps below the national rate which is a positive sign.
- Unemployment in the market is 110 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in March versus prior month by 6.9% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs declined by -0.6%. Key sectors include:
- Transportation & Utilities: 30,800; -200
- Education & Healthcare: 27,900; no change
- Government: 19,700; -100
- Business Services: 15,200; -400
- Restaurants & Hotels: 12,600; no change
- Financial Services: 11,300; -200
- Manufacturing: 10,400; no change
- Construction, Mining: 7,700; no change
- Other Jobs: 4,900; +100
- IT & Development: 2,800; no change
Data is based on the most recent 12 months available, through March 2022 (Data published April 2022 and reports created on April 27, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.