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State economy

Minnesota economy

Minnesota's unemployment rate was 4.5% in September 2026, up from 4.4% the month before and 4.1% a year earlier. That ranks 39 of 51 (1 = lowest); the national rate was 4.1%. Employers had 3.06 million jobs on their payrolls in September 2026, a gain of 36,800 (+1.2%) from a year earlier. Home prices (FHFA index) were +3.0% from a year earlier in Q2 2026. Median household income was $95,160 in 2025.

4.5%
unemployment rate
September 2026
Unemployment rate4.5%Rank 39 of 51 (1 = lowest)
10-year range2.2–11.1%Low Apr 2022 · high May 2020
Nonfarm jobs3.06M+1.2% in a year · rank 8
Home prices (FHFA)+3.0%1-year change · Q2 2026 · 5-yr +31%
Median household income$95,1602025 · rank 18 of 51

Minnesota: unemployment rate

Minnesota unemployment rateLine chart from Jan 1, 2006 to Sep 1, 2026. Latest 4.5%; high 11.1% on May 1, 2020; low 2.2% on Apr 1, 2022.2%4%6%8%10%12%20082010201220142016201820202022202420264.5%High 11.1%Low 2.2%

Minnesota: jobs, change from a year earlier

Minnesota nonfarm jobs, 12-month changeLine chart from Jan 1, 2001 to Sep 1, 2026. Latest +1.2%; high +10.2% on Apr 1, 2021; low -13.5% on Apr 1, 2020.-15%-10%-5%0%5%10%15%20052010201520202025+1.2%High +10.2%Low -13.5%

Minnesota: home prices, change from a year earlier

Minnesota FHFA house price index, 12-month changeLine chart from Jan 1, 2001 to Apr 1, 2026. Latest +3.0%; high +15.7% on Apr 1, 2022; low -9.4% on Jan 1, 2010.-10%0%10%20%20052010201520202025+3.0%High +15.7%Low -9.4%

Minnesota: median household income

Minnesota median household incomeLine chart from Jul 1, 1984 to Jul 1, 2025. Latest $95,160; high $95,160 on Jul 1, 2025; low $23,860 on Jul 1, 1985.$20,000$40,000$60,000$80,000$100,0001990199520002005201020152020$95,160Low $23,860

Other states

AlabamaAlaskaArizonaArkansasCaliforniaColoradoConnecticutDelawareDistrict of ColumbiaFloridaGeorgiaHawaiiIdahoIllinoisIndianaIowaKansasKentuckyLouisianaMaineMarylandMassachusettsMichiganMinnesotaMississippiMissouriMontanaNebraskaNevadaNew HampshireNew JerseyNew MexicoNew YorkNorth CarolinaNorth DakotaOhioOklahomaOregonPennsylvaniaRhode IslandSouth CarolinaSouth DakotaTennesseeTexasUtahVermontVirginiaWashingtonWest VirginiaWisconsinWyoming

Sources: U.S. Bureau of Labor Statistics (unemployment, nonfarm payrolls; seasonally adjusted), Federal Housing Finance Agency (all-transactions house price index), U.S. Census Bureau (median household income, current dollars), via FRED. US unemployment rate: 4.1% (October 2026).