Overall unemployment rate moved down to 1.5% with the biggest shift in Restaurants & Hotels, which gained 10,700 roles, based on the most recently available information published in June 2022.
Total employment in the Minneapolis-St. Paul-Bloomington, MN-WI market rose by 30,704 jobs in April and the unemployment rate decreased compared to the prior month by 110 bps to 1.5%. The national unemployment rate decreased by 42 bps over the same time to 3.3%.
- Minneapolis-St. Paul-Bloomington, MN-WI unemployment rate is 184 bps below the national rate which is a positive sign.
- Unemployment in the market is 220 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) declined in April versus prior month by -0.5% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 1.8% . Key sectors include:
- Transportation & Utilities: 344,000; -1,600
- Education & Healthcare: 341,700; +900
- Business Services: 328,700; +10,100
- Government: 240,100; +700
- Manufacturing: 204,800; +1,700
- Restaurants & Hotels: 166,800; +10,700
- Financial Services: 159,900; +5,000
- Construction, Mining: 83,100; +5,500
- Other Jobs: 75,200; +1,700
- IT & Development: 33,300; +400
Data is based on the most recent 12 months available, through April 2022 (Data published June 2022 and reports created on June 1, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.