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 November 2020

November 2020
(Preliminary)
November 2019
(Not Preliminary)
Over the Year Employment Change
Total Nonfarm 142,000 147,800 -5,800
Total Private 122,200 127,700 -5,500
Goods-Producing 18,500 19,700 -1,200
Service-Providing 123,500 128,100 -4,600
Private Service-Providing 103,700 108,000 -4,300
Mining, Logging, and Construction 9,000 9,400 -400
Manufacturing 9,500 10,300 -800
Trade, Transportation and Utilities 29,500 30,800 -1,300
Information 3,000 3,100 -100
Financial Activities 11,500 11,500 0
Professional and Business Services 14,300 14,700 -400
Educational and Health Services 28,300 28,200 100
Leisure and Hospitality 12,500 14,700 -2,200
Other Services 4,600 5,000 -400
Government 19,800 20,100 -300

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