United States Congress Joint Economic Committee

Minnesota

September 2020

Labor Market (BLS/Haver)
Most Recent Prior Month 12 Mo. Prior
Minnesota Unemployment (U-3) 7.4% 7.6% 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 69.8% 69.4% 70.4%
U.S. Labor Force Participation Rate 61.7% 61.4% 63.2%
Prices (BLS/Haver, AAA)
Most Recent Prior Month 12 Mo. Prior
CPI-U Inflation 1.3% 1.0% 1.7%
"Core" CPI Inflation 1.7% 1.6% 2.4%
National Gas/gal. Updated 9/24/20 12:00 AM $2.20 $2.19 $2.66
Minnesota Gas/gal. $2.07 $2.05 $2.62
Midwest Region: Loaf of Bread $1.33 $1.34 $1.16
Midwest Region: Milk/gal. $2.57 $2.62 $2.17
Economic Growth (BEA, WSJ/Haver)
U.S. Real GDP
Q2/2020 (2nd Estimate)
-31.7%
MN Real GDP
Q3/2019
2.0%
S&P 500 (YTD)
3.41% Updated 9/13/20 5:00 AM
Minimum Wage (DOL/WHD)
National Hourly Rate
$7.25
MN Hourly Rate
$10.00
Last Generated: 9/24/20 10:05 AM