United States Congress Joint Economic Committee

Minnesota

April 2024

Labor Market (BLS/Haver)
Most Recent Prior Month 12 Mo. Prior
Minnesota Unemployment (U-3) 3.0% 2.9% 2.6%
U.S. Official Rate (U-3) 3.7% 3.7% 3.4%
U.S. "Real" Rate (U-6) 7.0% 7.1% 6.7%
Minnesota Labor Force Participation Rate 68.0% 68.1% 67.9%
U.S. Labor Force Participation Rate 62.5% 62.5% 62.4%
Prices (BLS/Haver, AAA)
Most Recent Prior Month 12 Mo. Prior
CPI-U Inflation 3.4% 3.1% 6.5%
"Core" CPI Inflation 3.9% 4.0% 5.7%
National Gas/gal. Updated 4/14/24 12:00 AM $3.63 $3.41 $3.66
Minnesota Gas/gal. $3.31 $3.17 $3.58
Midwest Region: Loaf of Bread $1.97 $1.91 $1.87
Midwest Region: Milk/gal. $2.57 $2.62 $2.17
Economic Growth (BEA, WSJ/Haver)
U.S. Real GDP
Q4/2023 (Advance Estimate)
3.3%
MN Real GDP
Q4/2023
2.4%
S&P 500 (YTD)
0.29% Updated 1/16/24 5:00 AM
Minimum Wage (DOL/WHD)
National Hourly Rate
$7.25
MN Hourly Rate
$10.33
Last Generated: 4/14/24 5:14 AM