Economy of Minnesota

Economy of Minnesota
State quarter
Statistics
GDP$472 billion (2023)[1]
Population below poverty line
9.6% (2023)[2]
0.4434 (2023)[3]
Labor force
3,108,458 (2022)[4]
Unemployment3.0% (August 2023)[5]
Public finances
Revenues$67.7 billion (FY 2022-23)[6]
Expenses$51.6 billion (FY 2022-23)[7]


The economy of Minnesota produced US$472 billion of gross domestic product in 2023.[8] Minnesota headquartered 15 Fortune 500 companies in 2023, the largest of which were UnitedHealth Group (5th) and Target (33rd).[9] The per capita personal income in 2022 was $60,785, ranking ninth in the nation.[10] The median household income in 2023 was $82,338.[11]

  1. ^ "Gross Domestic Product: All Industry Total in Minnesota". January 1997.
  2. ^ "U.S. Census Bureau QuickFacts: United States". Retrieved July 27, 2024.
  3. ^ "Gini Index of Income Inequality". Retrieved 2024-07-27.
  4. ^ "DP03: Selected Economic Characteristics - Census Bureau Table".
  5. ^ "Unemployment Rate in Minnesota". fred.stlouisfed.org. August 21, 2023. Archived from the original on September 4, 2023. Retrieved September 4, 2023.
  6. ^ "General Fund Balance Analysis, End of 2023 Legislative Session" (PDF). Retrieved August 25, 2024.
  7. ^ "General Fund Balance Analysis, End of 2023 Legislative Session" (PDF). Retrieved August 25, 2024.
  8. ^ "Economic Recovery Widespread Across States in 2010" (PDF). U.S. Department of Commerce. 2010. Archived from the original (PDF) on July 19, 2011. Retrieved March 9, 2018.
  9. ^ "Minnesota now has 15 Fortune 500 companies, down from 16 last year". MinnPost. MinnPost. 2023. Retrieved July 28, 2024.{{cite news}}: CS1 maint: url-status (link)
  10. ^ "SARPI Real personal income and real personal Consumption Expenditures (PCE) by state". U.S. Bureau of Economic Analysis. December 14, 2023. Retrieved August 25, 2024.
  11. ^ "Explore Census Data". data.census.gov. Retrieved July 28, 2024.