Overall unemployment rate moved down to 2.3% with the biggest shift in Restaurants & Hotels, which gained 500 roles, based on the most recently available information published in May 2023.
Total employment in the Fargo, ND-MN market rose by 1,366 jobs in March and the unemployment rate decreased compared to the prior month by 20 bps to 2.3%. The national unemployment rate decreased by 27 bps over the same time to 3.6%.
- Fargo, ND-MN unemployment rate is 132 bps below the national rate which is a positive sign.
- Unemployment in the market is 20 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 9.3% and are down 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: 31,300; -200
- Education & Healthcare: 28,800; -100
- Government: 20,100; -100
- Business Services: 14,900; -200
- Restaurants & Hotels: 14,900; +500
- Manufacturing: 11,600; no change
- Financial Services: 11,100; +100
- Construction, Mining: 8,800; +200
- Other Jobs: 5,000; no change
- IT & Development: 2,600; -100
Data is based on the most recent 12 months available, through March 2023 (Data published May 2023 and reports created on May 9,2023). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.