United States Congress Joint Economic Committee

Minnesota

July 2020

Labor Market (BLS/Haver)
Most Recent Prior Month 12 Mo. Prior
Minnesota Unemployment (U-3) 9.9% 8.7% 3.2%
U.S. Official Rate (U-3) 3.5% 3.5% 3.9%
U.S. "Real" Rate (U-6) 6.7% 6.9% 7.6%
Minnesota Labor Force Participation Rate 68.9% 68.9% 70.2%
U.S. Labor Force Participation Rate 60.8% 60.2% 62.9%
Prices (BLS/Haver, AAA)
Most Recent Prior Month 12 Mo. Prior
CPI-U Inflation 0.1% 0.3% 1.8%
"Core" CPI Inflation 1.2% 1.4% 2.0%
National Gas/gal. Updated 7/2/20 12:00 AM $2.18 $1.98 $2.73
Minnesota Gas/gal. $2.10 $1.90 $2.60
Midwest Region: Loaf of Bread $1.29 $1.28 $1.16
Midwest Region: Milk/gal. $2.57 $2.62 $2.17
Economic Growth (BEA, WSJ/Haver)
U.S. Real GDP
Q1/2020 (3rd Estimate)
-5.0%
MN Real GDP
Q3/2019
2.0%
S&P 500 (YTD)
-6.86% Updated 6/28/20 5:00 AM
Minimum Wage (DOL/WHD)
National Hourly Rate
$7.25
MN Hourly Rate
$10.00
Last Generated: 7/2/20 10:05 AM