Overall unemployment rate moved up to 2.5% with the biggest shift in Manufacturing, which gained 2,600 roles, based on the most recently available information published in April 2022.
Total employment in the Minneapolis-St. Paul-Bloomington, MN-WI market rose by 2,356 jobs in March and the unemployment rate increased compared to the prior month by 10 bps to 2.5%. The national unemployment rate decreased by 39 bps over the same time to 3.8%.
- Minneapolis-St. Paul-Bloomington, MN-WI unemployment rate is 125 bps below the national rate which is a positive sign.
- Unemployment in the market is 170 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 3.2% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 0.6% . Key sectors include:
- Transportation & Utilities: 345,700; +1,900
- Education & Healthcare: 341,100; +2,000
- Business Services: 318,300; -100
- Government: 239,500; -700
- Manufacturing: 203,700; +2,600
- Restaurants & Hotels: 155,700; +1,700
- Financial Services: 155,600; +2,200
- Construction, Mining: 77,100; -300
- Other Jobs: 73,900; +1,100
- IT & Development: 32,900; +300
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.