The economy of Minnesota produced US$472 billion of gross domestic product in 2023. [9] Minnesota headquartered 15 Fortune 500 companies in 2023, the largest of which were UnitedHealth Group (5th) and Target (33rd). [10] The per capita personal income in 2022 was $60,785, ranking ninth in the nation. [11] The median household income in 2023 was , In 2024, GDP per person in Minnesota was $68,237, up 0.4% from 2023. In 2024, real GDP was equivalent to $68,237 per person. GDP and the economic experience vary by location due to factors like cost of living, population density, workforce education, and the area’s main industries., This edition of Minnesota Economic Trends includes articles that: examine Minnesotans’ job mobility before and after the pandemic recession; analyze demographic, economic, and educational trends, and disparities regarding Minnesota’s Black labor force; take a closer look at Minnesota’s extremely tight labor market; and forecast short-term , We track data on economic output (GDP), jobs, median income, and poverty to better understand the strength of Minnesota’s economy and whether the fruits of the economy are improving the well-being of its residents., Politics aside, then, here are five things the February forecast says about the economy: Minnesota and the nation are seeing a fairly rapid improvement in their economies., Minnesota's economic output slowed at the end of 2022 but accelerated in the first quarter of 2023, with a 2.2% bump driven by agriculture, retail and construction. In the second quarter,.