Minneapolis Job Market Steady at 4.5% Unemployment Despite Year-Over-Year Cooling

About this episode

The episode discusses the stability and cooling of the Minneapolis job market, highlighting key statistics and industry trends.

The Minneapolis job market reflects a stable yet cooling landscape in the Twin Cities region, with Minnesota's seasonally adjusted unemployment rate holding steady at 4.5 percent in March 2026, above the national rate of 4.3 percent according to the Minnesota Department of Employment and Economic Development. Overall employment in the Twin Cities shrank by nearly 1,800 positions year-over-year, amid statewide job growth of just 0.3 percent or about 9,200 jobs, as reported by MPR News and KROC-AM News. Indeed lists over 90,600 job openings in Minneapolis, signaling persistent demand despite slower hiring rates noted by the Federal Reserve Bank of Minneapolis. Major industries include healthcare, manufacturing especially medical devices, technology, and professional services, with key employers like Mayo Clinic affiliates and tribal businesses expanding into leisure, hospitality, and federal contracting per Minneapolis Fed analysis. Growing sectors encompass biotechnology, software, water technology, and AI-driven innovation, supported by state grants totaling 15.75 million dollars for 15 projects as detailed in Twin Cities Business. Recent developments feature job losses in…

Topics covered

• job market
• unemployment
• employment trends
• economic development
• industry growth

Keywords

• Minneapolis
• unemployment
• job openings
• employment growth
• healthcare
• technology
• biotechnology
• AI

Mentioned in this episode

Organizations: Minnesota Department of Employment and Economic Development, MPR News, KROC-AM News, Mayo Clinic, Minneapolis Fed, Twin Cities Business, Minnesota Senate

Places: Minneapolis, Twin Cities

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