BISMARCK, N.D. (NewsDakota.com) – North Dakota’s unemployment rate for July fell to 2.5%, according to labor statistics released today by Job Service North Dakota. This marks a slight decrease from June’s rate of 2.6%, though the current figure remains 0.8 percentage points higher than July 2023’s 1.7%.
The number of unemployed individuals in the state decreased by 264 between June and July 2024, representing a 2.4% decline. However, compared to the same period last year, the number of unemployed has increased by 51.0%, with 3,641 more individuals jobless than in July 2023.
Despite the year-over-year rise in unemployment, North Dakota’s job market remains stronger than the national average. The national not seasonally adjusted unemployment rate for July 2024 was 4.5%, up from 4.3% in June and 3.8% in July 2023.
The state’s seasonally adjusted unemployment rate also edged up slightly to 2.2% in July, compared to 2.1% in June 2024 and 1.8% in July 2023. North Dakota now ranks third among all states in terms of unemployment, with South Dakota holding the lowest rate at 2.0%.
North Dakota’s labor force remained steady in July 2024 at 425,971, with 415,196 individuals employed.
Sector-Specific Employment Trends
Preliminary estimates indicate that North Dakota’s nonfarm employment grew by 1.7% over the past year, adding 7,400 jobs since July 2023. However, employment decreased by 0.9% from June to July 2024, with a loss of 4,200 jobs.
Nine of the state’s 13 major industries reported year-over-year employment gains. Private Educational and Health Services led the way with an increase of 3,900 jobs, a 5.8% rise, driven primarily by a 1,200-job increase in Hospitals. Other notable sectors with job growth include Government (+2,400), Construction (+1,100), Wholesale Trade (+800), and Mining and Logging (+700).
Conversely, Leisure and Hospitality experienced the largest employment decline, losing 1,900 jobs. Professional and Business Services (-400) and Information (-100) also saw decreases, while Retail Trade employment remained unchanged.
Metro Area Employment
Among North Dakota’s three metropolitan areas, Fargo and Grand Forks posted year-over-year employment gains of 3,900 and 900 jobs, respectively. Bismarck, however, recorded a loss of 600 jobs during the same period.