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Minnesota Economy: GDP, Income and Employment

Minnesota produced $515.1 billion in current-dollar GDP in 2025, 1.67% of the published U.S. total. Its real output changed 0.70% from 2024.

Gross domestic product

$515.1 billion

2025 · Current dollars · BEA SAGDP1 line 3
$515,116.4 million. Published September 30, 2026.

Real GDP growth

0.70%

2025 vs. 2024 · Annual change
Calculated from BEA SAGDP1 line 1, chained 2017 dollars.

Unemployment rate

4.4%

August 2026 · Seasonally adjusted · Preliminary
BLS LAUS · Published September 18, 2026.

Payroll job growth

1.45%

August 2026 vs. August 2025 · Seasonally adjusted
BLS state CES · 3,068.6 thousand nonfarm jobs.

Personal income per capita

$78,197

2025 · Dollars per resident · BEA SAINC1 line 3
Before personal current taxes. Published September 30, 2026.

Regional price level

98.621

2024 · U.S. = 100 · BEA all-items RPP
Published February 19, 2026. This measures price levels, not inflation.

Minnesota compared with the United States

Annual real GDP growth was 1.65 percentage points below the U.S. annual growth rate in 2025. Personal income per resident was $1,169 above the U.S. value of $77,028 in the same year. These comparisons use national observations from the same regional producer files.

The August unemployment rate was 0.3 percentage points above the national 4.1% reading. That numerical difference is not a statistical-significance claim. The 2024 price parity was 1.4% below the national benchmark. Household circumstances and local housing markets can differ from these state averages.

Where Minnesota ranks among states

GDP and income history

Current-dollar output rose 45.2% between 2017 and 2025 in this acquired history. That figure includes price change and is separate from real output growth. The chart uses the published price-adjusted total; chained-dollar industry components are not added together.

Minnesota real GDP, 2017–2025 — Millions of chained 2017 dollars 350.2K373.5K396.8K 20172025 Minnesota real GDP, 2017–2025 — Millions of chained 2017 dollars 350.2K373.5K396.8K 20172025
Minnesota annual accounts and spatial prices · acquired September 30, 2026
YearNominal GDP, $ millionsReal GDP, chained 2017 $ millionsIncome per resident, $All-items price parity
2025515,116.4392,306.378,197Not published
2024497,205.9389,585.975,04098.621
2023479,586.8386,415.672,56598.302
2022453,724.8382,884.669,47197.457
2021413,512.3374,637.867,74398.396
2020378,295.5357,072.961,35897.766
2019384,836.8369,508.657,88998.759
2018372,439.2364,731.756,18699.599
2017354,721.9354,721.953,81296.739

Missing 2025 price parities mean that year was not published in the acquired file. They are not treated as zero or estimated from another year.

Employment and unemployment history

Unemployment describes eligible resident jobseekers as a share of the civilian labor force. Payroll employment describes jobs at establishments in Minnesota. A commuter can live in another state; a person with multiple covered jobs can contribute multiple payroll jobs. Neither series substitutes for the other.

Minnesota unemployment rate, 2017–2026 — Percent of civilian labor force; seasonally adjusted 1.16.612.2 2017-012026-08 Minnesota unemployment rate, 2017–2026 — Percent of civilian labor force; seasonally adjusted 1.16.612.2 2017-012026-08

Scroll within the monthly table to read earlier observations; on narrow screens, scroll sideways for every column.

Monthly unemployment and payroll table
BLS state series · seasonally adjusted · payroll levels in thousands of jobs
MonthUnemployment, %Payroll jobs, thousandsUnemployment status
August 20264.43,068.6Preliminary
July 20264.33,067.1Published
June 20264.43,065.5Published
May 20264.43,055.7Published
April 20264.53,045.5Published
March 20264.53,027.0Published
February 20264.53,026.5Published
January 20264.43,033.4Published
December 20254.23,035.0Published
November 20254.23,034.3Published
October 2025Not published3,029.6Not published
September 20254.13,028.2Published
August 20253.93,024.7Published
July 20253.83,021.7Published
June 20253.83,023.0Published
May 20253.73,031.3Published
April 20253.63,034.1Published
March 20253.63,022.2Published
February 20253.53,021.9Published
January 20253.43,022.2Published
December 20243.33,030.5Published
November 20243.33,026.7Published
October 20243.23,022.5Published
September 20243.33,021.0Published
August 20243.33,014.8Published
July 20243.23,013.1Published
June 20243.23,022.7Published
May 20243.13,016.1Published
April 20243.03,010.4Published
March 20243.03,014.2Published
February 20242.92,999.3Published
January 20242.82,996.7Published
December 20232.82,993.1Published
November 20232.82,993.9Published
October 20232.82,993.0Published
September 20232.82,992.7Published
August 20232.82,988.2Published
July 20232.82,988.0Published
June 20232.82,994.9Published
May 20232.82,982.1Published
April 20232.82,971.9Published
March 20232.82,976.8Published
February 20232.82,972.3Published
January 20232.72,967.7Published
December 20222.72,953.0Published
November 20222.62,955.1Published
October 20222.62,949.9Published
September 20222.52,946.9Published
August 20222.42,945.0Published
July 20222.32,942.4Published
June 20222.22,920.3Published
May 20222.22,926.8Published
April 20222.22,925.9Published
March 20222.32,911.0Published
February 20222.42,911.2Published
January 20222.62,895.2Published
December 20212.82,902.1Published
November 20212.92,896.7Published
October 20213.12,887.4Published
September 20213.32,851.6Published
August 20213.52,869.5Published
July 20213.62,868.4Published
June 20213.82,847.1Published
May 20213.92,844.0Published
April 20214.12,843.0Published
March 20214.22,834.0Published
February 20214.42,813.1Published
January 20214.62,800.4Published
December 20204.82,757.7Published
November 20205.12,802.8Published
October 20205.52,806.0Published
September 20206.22,772.2Published
August 20206.72,751.9Published
July 20207.82,715.8Published
June 20208.92,673.9Published
May 202011.12,599.9Published
April 20208.92,578.8Published
March 20203.62,978.6Published
February 20203.52,995.1Published
January 20203.42,994.0Published
December 20193.42,988.5Published
November 20193.32,988.5Published
October 20193.32,989.2Published
September 20193.32,987.0Published
August 20193.32,991.0Published
July 20193.22,987.1Published
June 20193.22,986.7Published
May 20193.22,985.2Published
April 20193.22,981.1Published
March 20193.32,975.2Published
February 20193.32,971.8Published
January 20193.32,974.0Published
December 20183.22,973.2Published
November 20183.22,974.3Published
October 20183.12,967.7Published
September 20183.02,969.3Published
August 20182.92,967.8Published
July 20182.92,966.9Published
June 20182.92,964.6Published
May 20182.92,959.4Published
April 20183.02,949.1Published
March 20183.02,958.0Published
February 20183.12,959.0Published
January 20183.12,956.7Published
December 20173.22,949.6Published
November 20173.22,948.1Published
October 20173.32,943.4Published
September 20173.32,946.0Published
August 20173.42,938.5Published
July 20173.42,938.4Published
June 20173.42,938.7Published
May 20173.52,930.1Published
April 20173.52,933.3Published
March 20173.62,938.6Published
February 20173.72,930.2Published
January 20173.82,927.8Published

Largest published industries in Minnesota

The table orders non-overlapping broad sectors by their 2025 current-dollar GDP in BEA SAGDP2. These shares describe production structure; they do not establish the sectors responsible for the most recent real growth. Suppressed or unavailable cells are omitted rather than reconstructed.

Minnesota largest acquired broad industries · 2025 · current dollars
IndustryProducer classificationOutput, $ millionsShare of state GDP
Real estate and rental and leasing5364,950.512.61%
Manufacturing31-3358,003.111.26%
Health care and social assistance6251,851.510.07%
Government and government enterprises9249,170.39.55%
Finance and insurance5246,831.69.09%

Real estate and rental and leasing is the largest of the acquired broad sectors, at 12.6% of total nominal output. The next sectors are Manufacturing and Health care and social assistance. The original industry classification and table line remain in the JSON download; no occupational wage or employment estimate is inferred from an output share.

Compare economies of a similar nominal size

The three states nearest Minnesota in 2025 nominal GDP are Indiana, Wisconsin, Missouri. These peers are selected by the absolute difference in total GDP, not by neighboring borders, household income, industry similarity or policy. Use the separate rankings to compare other dimensions.

Sources, downloads and geographic coverage

BEA state accounts: SAGDP1, SAINC1 and SARPP. BLS unemployment code: LASST270000000000003; payroll code: SMS27000000000000001. Geography: Minnesota, state FIPS 27; BEA area code 27000. Industry output uses the 2017 NAICS classification in SAGDP2. Original codes are text and must retain leading zeroes.

Source-file dates: GDP/income September 30, 2026; prices February 19, 2026; state labor September 18, 2026. Snapshot: regional-2026-09-30-reviewed. Estimates are revisable. This archive preserves the acquired figures and does not reproduce earlier published vintages. County or metro values are not inferred from this state profile.

Download state histories CSV · Dictionary and source checksums · BEA state GDP · BLS local unemployment · Compare regional purchasing power.

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