Overall unemployment rate moved up to 1.9% with the biggest shift in Transportation & Utilities, which gained 6,700 roles, based on the most recently available information published in January 2022.
Total employment in the Minneapolis-St. Paul-Bloomington, MN-WI market rose by 2,761 jobs in November and the unemployment rate increased compared to the prior month by 20 bps to 1.9%. The national unemployment rate decreased by 4 bps over the same time to 3.4%.
- Minneapolis-St. Paul-Bloomington, MN-WI unemployment rate is 146 bps below the national rate which is a positive sign.
- Unemployment in the market is 30 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in November versus prior month by 5.7% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 0.2% . Key sectors include:
- Education & Healthcare: 356,600; +1,200
- Transportation & Utilities: 355,500; +6,700
- Business Services: 344,000; +300
- Government: 250,000; +5,000
- Manufacturing: 211,900; +500
- Restaurants & Hotels: 170,900; -3,900
- Financial Services: 157,600; -800
- Construction, Mining: 88,800; -5,500
- Other Jobs: 75,500; no change
- IT & Development: 32,900; no change
Data is based on the most recent 12 months available, through November 2022 (Data published January 2022 and reports created on January 3, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.