Minneapolis-St. Paul Area Economic Summary
Updated June 28, 2017
This summary presents a sampling of economic information for the area; supplemental data are provided for regions
and the nation. Subjects include unemployment, employment, wages, prices, spending, and benefits. All data are
not seasonally adjusted and some may be subject to revision. Area definitions may differ by subject. For more area
summaries and geographic definitions, see www.bls.gov/regions/economic-summaries.htm.
Unemployment rates for the Minneapolis area,
selected area counties, and the nation
Average weekly wages for all industries by county
Minneapolis area, 4th quarter 2016
(U.S. = $1,067; Area = $1,148)
Unemployment rates
4.5
United States
4.1
3.1
Minneapolis
area
3.2
3.2
Anoka Co., MN
3.3
2.9
Dakota Co., MN
3.0
3.0
Hennepin Co.,
MN
3.2
3.2
Ramsey Co.,
MN
3.4
0.0
2.0
4.0
May-16
6.0
May-17
Source: U.S. BLS, Local Area Unemployment Statistics.
Source: U.S. BLS, Quarterly Census of Employment and Wages.
Over-the-year changes in employment on nonfarm payrolls and employment by major industry sector
12-month percent changes in employment
Percent
Minneapolis area employment
(numbers in thousands)
3.0
2.5
0.5
0.0
May-14
Percent
38.5
2.0
83.5
2.8
3.5
Manufacturing
200.4
4.6
2.3
Trade, transportation, and utilities
357.7
1.8
0.5
38.2
0.6
1.6
Financial activities
143.1
2.2
1.6
Professional and business services
324.5
6.6
2.1
Education and health services
335.0
11.8
3.7
Leisure and hospitality
185.6
-1.4
-0.7
82.3
3.4
4.3
255.9
6.1
2.4
Information
1.0
Minneapolis area
May-15
United States
May-16
Source: U.S. BLS, Current Employment Statistics.
May-17
2016 to May 2017
2,006.2
Mining, logging, and construction
1.5
May 2017
Number
Total nonfarm
2.0
Change from May
Other services
Government
Source: U.S. BLS, Current Employment Statistics.
• www.bls.gov/ro6
Over-the-year changes in the selling prices received by
producers for selected industries nationwide
Over-the-year change in the prices paid by urban
consumers for selected categories
12-month percent change in CPI-U, second half 2016
2.0
1.6
Percent
4.0
1.5
12-month percent changes in PPI
General freight trucking
Hospitals
Electromedical apparatus manufacturing
3.0
2.0
0.2
0.0
1.0
-0.2
-4.0
0.0
-1.5
-2.0
Minneapolis area
U.S. city average
All Items
Food
-1.0
-2.0
-3.1
-3.0
Energy
-4.0
May-14
Source: U.S. BLS, Consumer Price Index.
Average annual spending and percent distribution for
selected categories
Minneapolis-St. Paul area average annual expenditures 2014-15
May-15
Housing
$22,526
32.2%
Healthcare
$5,672
8.1%
Personal
insurance &
pensions
$8,189
11.7%
Food
$7,843
11.2%
Transportation
$11,652
16.7%
Total:
$69,967
Source: U.S. BLS, Consumer Expenditure Survey.
Total compensation
Wages and salaries
Total benefits
Paid leave
Vacation
Supplemental pay
Insurance
Retirement and savings
Legally required benefits
Minneapolis
area
United
States
Total, all occupations
$26.45
$23.86
Financial managers
69.94
67.17
Computer systems analysts
45.19
44.05
Industrial engineers
44.19
42.56
Registered nurses
38.13
34.70
Accountants and auditors
34.88
36.89
Construction laborers
24.77
18.22
Machinists
23.59
20.78
Customer service representatives
19.34
16.91
Social and human service assistants
16.53
16.41
Retail salespersons
12.79
13.07
Personal care aides
11.91
10.92
9.38
9.89
Cooks, fast food
Source: U.S. BLS, Occupational Employment Statistics, May 2016.
Employer costs per hour worked for wages and
selected employee benefits by geographic division
Private industry, March 2017
May-17
Average hourly wages for selected occupations
Occupation
All other
$14,085
20.1%
May-16
Source: U.S. BLS, Producer Price Index.
West North
Central (1)
$29.86
20.97
8.90
2.02
1.10
0.78
2.47
1.22
2.40
(1) West North Central includes IA, KS, MN, MO, ND, NE, and SD.
Source: U.S. BLS, Employer Costs for Employee Compensation.
United
States
$33.11
23.06
10.06
2.30
1.18
1.17
2.65
1.34
2.60
Over-the-year changes in wages and salaries
Percent
6.0
12-month percent changes in ECI
5.0
4.0
3.0
2.0
1.0
0.0
-1.0
Mar-14
Minneapolis area
Mar-15
Source: U.S. BLS, Employment Cost Index.
Midwest Information Office • [email protected] • https://www.bls.gov/regions/midwest/ • 312-353-1880
United States
Mar-16
Mar-17