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 2020
Employed 117,689 119,400 120,314 122,258 124,433 127,455 132,487 134,186 133,395 135,434 135,761
Change over previous year (%)  1.95 1.45 0.77 1.62 1.78 2.43  3.95  1.28 -0.59 1.53 .24
Unemployment Rate (%) 4.1 3.9 3.5 3.2 2.7 2.5 2.5 2.4 2.4 2.3 4.3

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 February 2021

February 2021
(Preliminary)
February 2020
(Not Preliminary)
Over the Year Employment Change
Total Nonfarm 139,300 145,200 -5,900
Total Private 120,400 124,700 -4,300
Goods-Producing 18,200 17,500 700
Service-Providing 121,100 127,700 -6,600
Private Service-Providing 102,200 107,200 900
Mining, Logging, and Construction 8,100 7,400 700
Manufacturing 10,100 10,100 -100
Trade, Transportation and Utilities 30,000 30,200 -200
Information 2,900 3,000 -100
Financial Activities 11,700 11,700 0
Professional and Business Services 13,000 14,100 -1,100
Educational and Health Services 27,500 28,800 -1,300
Leisure and Hospitality 12,200 14,200 -2,000
Other Services 4,900 5,200 -300
Government 18,900 20,500 -1,600

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