Overall unemployment rate moved down to 2.3% with the biggest shift in Education & Healthcare, which gained 300 roles, based on the most recently available information published in April 2022.
Total employment in the Rochester, MN market rose by 869 jobs in February and the unemployment rate decreased compared to the prior month by 70 bps to 2.3%. The national unemployment rate decreased by 28 bps over the same time to 4.1%.
- Rochester, MN unemployment rate is 184 bps below the national rate which is a positive sign.
- Unemployment in the market is 210 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in February versus prior month by 4.4% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 0.4% . Key sectors include:
- Education & Healthcare: 53,300; +300
- Transportation & Utilities: 17,100; -100
- Government: 12,700; +200
- Restaurants & Hotels: 10,300; +100
- Manufacturing: 9,500; no change
- Business Services: 6,900; +100
- Construction, Mining: 4,700; -100
- Other Jobs: 3,800; no change
- Financial Services: 2,800; no change
- IT & Development: 1,200; no change
Data is based on the most recent 12 months available, through February 2022 (Data published April 2022 and reports created on April 6, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.