Minnesota Ranks Third Nationally for Job Market Health
The state earns high marks for income and protections, but faces a competitive landscape for new job opportunities.
Updated on Oct. 28, 2026 in Employment
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Minnesota ranks third overall in a new national assessment of state job markets released on October 28, 2026. The state secured high marks for household income and worker protections, placing it just behind Nebraska and North Dakota.
Why it matters
Understanding state-level job conditions helps households evaluate local economic stability and potential career opportunities. This ranking highlights how Minnesota's specific combination of income levels and tax policies differentiates it from other states.
Minnesota earned a total score of 62.50 across 34 metrics in the WalletHub study. The state currently ranks third for adjusted median household income while also placing fifth for the share of residents holding multiple jobs.
The players
WalletHub
A personal-finance website that publishes regular studies and rankings on state-level economic conditions and consumer services.
The details
The ranking methodology balances two main pillars: a 60% weight on the broader job market and a 40% weight on the economic environment. While the state performs well in income and worker protections, it ranks 31st in job opportunities relative to the size of the labor force. This indicates that despite strong economic conditions for many residents, the volume of available positions remains a competitive factor.
Timeline
WalletHub published the jobs study on October 28, 2026.
Money Landscape
This ranking follows the 2026 WalletHub state jobs study to provide a snapshot of the regional economic landscape. It situates Minnesota within a competitive cohort of midwestern states that currently lead the nation in key labor metrics.
Residents should review their local job prospects and tax obligations, particularly if considering a career change or a move. Households may benefit from consulting a financial professional to discuss how state-specific tax tiers for high-income earners impact long-term planning.
The takeaway
Minnesota maintains a strong economic profile, though its ranking reflects a mix of high income and a competitive job market. Workers can use this data as a starting point to assess their current earning potential against state-wide economic benchmarks.
Further reading
For more on local workforce trends, see Employment.
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