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 2018 2019
Employed 117,689 119,400 120,314 122,258 124,433 127,455 132,487 134,186 133,395 135,434
Change over previous year (%)  1.95 1.45 0.77 1.62 1.78 2.43  3.95  1.28 -0.59 1.53
Unemployment Rate (%) 4.1 3.9 3.5 3.2 2.7 2.5 2.5 2.4 2.4 2.3

Source: Job Service ND; LAUS

Wage Information- Cass County

Data 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Average Weekly Wage, Total all industries $760 $797 $832 $851 $884 $917 $922 $946 $976 $1,008
Change over previous year (%) 2.84 4.87 4.39 2.28 3.88 3.73 0.55 2.60 3.17 3.28

Source: Job Service ND; QCEW Unit

Wage Information- Clay County

Data 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
 Average Weekly Wage, Total all industries  $597 $632  $649  $666  $698  $726  $729  $761 $787 $807
Change over previous year (%)  0.00 5.86 2.69 2.62 4.80 4.01  0.41  4.39 3.42 2.54

Source: Job Service ND; QCEW Unit

Current Employment Statistics for Fargo-Moorhead MSA in July 2020

July 2020
(Preliminary)
July 2019
(Not Preliminary)
Over the Year Employment Change
Total Nonfarm 136,600 142,900 -6,300
Total Private 121,300 126,500 -5,200
Goods-Producing 19,300 20,400 -1,100
Service-Providing 117,300 122,500 -5,200
Private Service-Providing 102,000 106,100 -4,100
Mining, Logging, and Construction 9,800 10,200 -400
Manufacturing 9,500 10,200 -700
Trade, Transportation and Utilities 28,400 30,200 -1,800
Information 3,000 3,100 -100
Financial Activities 11,500 11,500 0
Professional and Business Services 14,800 14,200 600
Educational and Health Services 27,100 27,500 -400
Leisure and Hospitality 12,600 14,600 -2,000
Other Services 4,600 5,000 -400
Government 15,300 16,400 -1,100

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