Economic Profile

Fargo Moorhead’s economy consistently ranks among the highest of 381 metropolitan areas in vitality, according to Moody’s economy.com. Gains in income and employment consistently exceed the national average, and the region has one of the lowest unemployment rates in the nation. Our community benefits from a diverse and solid base of industry that includes national and global names like Microsoft, John Deere, Bobcat, Case New Holland, Caterpillar, Titan Machinery, U.S. Bank, Bank of the West, and Wells Fargo.

 

Economic Indicators

Fargo Moorhead MSA Employment Information

Data 2010 2011 2012 2013 2014 2015 2016 2017
Employed 117,689 119,400 120,279 122,309 124,516 127,187 132,597 134,956
Change over previous year (%)  1.95 1.45 0.74 1.9 1.80 2.15  4.25 1.8
Unemployment Rate (%) 4.1 3.9 3.5 3.2 2.7 2.5 2.6 2.4

Source: Job Service ND; LAUS

 

Wage Information- Cass County

Data 2010 2011 2012 2013 2014 2015 2016 2017
Average Weekly Wage, Total all industries $760 $797 $832 $851 $884 $917 $922 $946
Change over previous year (%) 2.84 4.87 4.39 2.28 3.88 3.73 0.55 2.60

Source: Job Service ND; QCEW Unit

 

Wage Information- Clay County

Data 2010 2011 2012 2013 2014 2015 2016 2017
 Average Weekly Wage, Total all industries  $597 $632  $649  $666  $698  $726  $729 $761
Change over previous year (%)  0.0 5.86 2.69 2.62 4.80 4.01  0.41 4.39

Source: Job Service ND; QCEW Unit

 

Current Employment Statistics for Fargo-Moorhead MSA in May 2018

Title
May 2018 (Preliminary)
May 2017
(Not Preliminary)
Over the Year Employment Change
Total Nonfarm 143,400 142,900 500
Total Private 123,500 123,000 500
Goods-Producing 19,200 18,900 300
Service-Providing 124,200 124,000 200
Private Service-Providing 104,300 104,100 200
Mining, Logging, and Construction 9,400 9,200 200
Manufacturing 9,800 9,700 100
Trade, Transportation and Utilities 30,100 30,400 -300
Information 3,000 3,200 -200
Financial Activities 11,400 11,200 200
Professional and Business Services 15,400 15,800 -400
Educational and Health Services 24,900 24,100 800
Leisure and Hospitality 13,900 13,900 0
Other Services 5,600 5,500 100
Government 19,900 19,900 0

Source: Job Service N.D., Labor Market Information Center, CES Unit