United States Congress Joint Economic Committee

North Dakota

September 2023

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August Employment Update
Labor Market (BLS/Haver)
Most Recent Prior Month 12 Mo. Prior
North Dakota Unemployment (U-3) 2.1% 2.1% 2.2%
U.S. Official Rate (U-3) 3.6% 3.7% 3.6%
U.S. "Real" Rate (U-6) 7.1% 6.7% 7.0%
North Dakota Labor Force Participation Rate 69.2% 69.1% 69.4%
U.S. Labor Force Participation Rate 62.8% 62.6% 62.3%
Prices (BLS/Haver, AAA)
Most Recent Prior Month 12 Mo. Prior
CPI-U Inflation 3.0% 4.0% 9.1%
"Core" CPI Inflation 4.3% 4.7% 6.3%
National Gas/gal. Updated 9/25/23 12:00 AM $3.85 $3.83 $3.71
North Dakota Gas/gal. $3.89 $3.74 $3.70
Midwest Region: Loaf of Bread $1.96 $1.94 $1.74
Midwest Region: Milk/gal. $2.57 $2.62 $2.17
Economic Growth (BEA, WSJ/Haver)
U.S. Real GDP
Q4/2022 (2nd Estimate)
2.7%
ND Real GDP
Q1/2023
12.4%
S&P 500 (YTD)
12.78% Updated 9/22/23 5:00 AM
Minimum Wage (DOL/WHD)
National Hourly Rate
$7.25
ND Hourly Rate
$7.25
Last Generated: 9/25/23 10:05 AM