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Average hourly wages for all private sector workers increased 56 cents to $37.46 in January 2024 over the month. Over the year average hourly earnings increased $1.78, up 5.0%. Nationally private sector wages increased 42 cents over the month and rose 3.9% over the year.
Since January 2021, nonfarm private sector wages in Minnesota posted an average OTY growth of 3.9%, while the CPI's average growth has increased to 5.4% in the Minneapolis-St. Paul area (5.5% nationally). While the current trend is growth in prices to outpace growth in wages, the larger picture is more complex.
Aug 7, 2024 · Total nonfarm payrolls have grown by just 0.5% - 14,700 jobs - since Walz became governor versus 5.8% for the U.S. overall. The state has not fully recovered all the jobs lost during the health ...
Aug 30, 2023 · Government data offers valuable insights into a state's economy. Minnesota's economy ranks 20th in size among states and Washington, DC. Explore this page to learn about the state's economic growth, job market, and economy size, backed by data from reputable sources like the Bureau of Economic Analysis and the Bureau of Labor Statistics.
Minnesota; Data Series Back Data May 2024 ... Nonfarm Wage and Salary Employment. Total Nonfarm . 3,018.4: 3,010.9: ... Hours, and Earnings from the CES survey (State ...
We can track monthly average earnings for private sector employment in the region. In February, the average hourly private sector earnings were $ 35.41, a n 6.2 % in crease from February 202 1. Year-over-year w age growth have increased at a faster pace over 2021 as a tight labor market has caused employers to increase wages to attract and keep ...
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Nov 7, 2023 · In the first quarter of 2023, gross job losses represented 4.9 percent of private-sector employment in Minnesota; nationally, gross job losses accounted for 5.4 percent of private-sector employment. (See chart 3.) Gross job losses are the result of contractions in employment at existing establishments and the loss of jobs at closing establishments.
