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 May 2020

May 2020
(Preliminary)
May 2019
(Not Preliminary)
Over the Year Employment Change
Total Nonfarm 135,800 146,800 -11,000
Total Private 117,000 126,900 -9,900
Goods-Producing 18,400 19,400 -1,000
Service-Providing 117,400 127,400 -10,000
Private Service-Providing 98,600 107,500 -8,900
Mining, Logging, and Construction 9,000 9,300 -300
Manufacturing 9,400 10,100 -700
Trade, Transportation and Utilities 28,900 30,700 -1,800
Information 3,000 3,100 -100
Financial Activities 11,400 11,400 0
Professional and Business Services 14,900 14,200 700
Educational and Health Services 26,700 28,400 -1,700
Leisure and Hospitality 9,100 14,700 -5,600
Other Services 4,600 5,000 -400
Government 18,800 19,900 -1,100

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