Overall unemployment rate stayed flat at 1.4% with the biggest shift in Restaurants & Hotels, which gained 400 roles, based on the most recently available information published in December 2022.
Total employment in the Fargo, ND-MN market declined by 1,176 jobs in October and the unemployment rate stayed flat. The national unemployment rate increased by 8 bps over the same time to 3.4%.
- Fargo, ND-MN unemployment rate is 200 bps below the national rate which is a positive sign.
- Unemployment in the market is 40 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in October versus prior month by 10.6% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 0.4% . Key sectors include:
- Transportation & Utilities: 31,400; no change
- Education & Healthcare: 28,600; +200
- Government: 20,000; no change
- Business Services: 15,700; -100
- Restaurants & Hotels: 13,500; +400
- Manufacturing: 11,000; +200
- Financial Services: 10,800; -100
- Construction, Mining: 9,600; -100
Data is based on the most recent 12 months available, through October 2022 (Data published December 2022 and reports created on December 2, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.