Minneapolis Job Market Update: Diversified Growth, Remote Shift, and Policy Changes

Minneapolis currently offers a relatively strong but cooling job market, with solid employment levels, modest job growth, and slightly rising labor-market friction. According to the Minnesota Department of Employment and Economic Development, the Minneapolis–St. Paul metro has an unemployment rate hovering around 3 to 3.5 percent, consistently below the national average, though precise December metro figures lag by several weeks and may understate recent softening. Minnesota DEED and recent state workforce board materials report that statewide job counts surpassed pre‑pandemic levels in 2025, with over 3 million jobs and job growth running faster than the U.S. overall, even as national job gains slowed sharply according to the U.S. Bureau of Labor Statistics.

The employment landscape in Minneapolis is diversified. Major industries include health care and social assistance, finance and insurance, corporate management, professional and technical services, manufacturing, higher education, retail, transportation, and food services. Key employers include Target Corporation, UnitedHealth Group, U.S. Bank, 3M, Medtronic, General Mills, Hennepin Healthcare, Fairview Health, the University of Minnesota, and large public-sector entities such as the City of Minneapolis and the State of Minnesota. Growing sectors include health care, medical technology, financial technology, logistics and warehousing, data and cloud services, and green construction. Recent developments include slower overall hiring in late 2025, more cautious expansion plans, and rising use of hybrid and remote roles, which increase regional competition for professional jobs.

Seasonal patterns remain pronounced, with hiring spikes in retail, hospitality, and logistics around the holidays and construction surges in warmer months. Commuting trends show steady transit ridership recovery but continued reliance on cars and growing reverse commutes to suburban job centers. Government initiatives shaping the market include Minnesota’s Paid Family and Medical Leave program starting in 2026, which offers reduced premium rates for qualifying small employers and may support labor-force participation but could also raise compliance costs. Data gaps include very recent, Minneapolis-specific job-opening counts and neighborhood-level unemployment, which are available only with a delay or through proprietary data.

Listeners can currently find roles such as a software engineer at Target’s downtown Minneapolis tech hub, a registered nurse at Hennepin Healthcare, and a financial analyst at U.S. Bank in the central business district.

Key findings: Minneapolis maintains low unemployment and diversified industries, but hiring momentum has cooled; health care, tech-adjacent services, and logistics continue to grow; and policy changes plus remote work are gradually reshaping how and where jobs are created.

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