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2014 Job Numbers Soaring in Greater Mankato

Mankato, MINN (April 17, 2014) – According to the Current Employment Statistics (CES) figures released today by the Minnesota Department of Employment and Economic Development, job numbers in the Mankato-North Mankato Metropolitan Statistical Area (MSA) for the month of March continue to follow January and February trends, setting another year-over-year record high jobs number. The March jobs number reached 54,793, up 1,120 jobs (or 2.1%) from March of 2013.

Not only does the year-over-year numbers show off our marketplaces strength but so does the first quarter of 2014 as a whole. The Mankato – North Mankato MSA saw a Q1 average of 54,748 jobs per month, the highest on record for the MSA.

Breaking down the numbers further, the private sector and private service providing (a subset of the private sector)  jobs also have broken record highs each month during Q1. The Mankato – North Mankato MSA’s private sector showed the highest growth rate in the state with 3% growth, which represents 45,751 jobs. Private service providing jobs are up from last March 1,073 jobs.

Q1 2014 Private Sector Year over Year Job Growth

 

 

Metropolitan Statistical Area

January

February

March

2014 Average

 

Mankato – North Mankato MSA

3.5%

3.3%

3.0%

3.3%

 

St. Cloud MSA

2.6%

2.7%

2.7%

2.7%

 

Minneapolis-St. Paul MN-WI MSA

1.6%

1.3%

1.4%

1.5%

 

Duluth-Superior MN-WI MSA

1.3%

1.3%

0.6%

1.1%

 

Rochester MSA

-0.1%

-0.2%

-0.3%

-0.2%

       

   *Source: CES, Minnesota Department of Employment & Economic Development (DEED)
   Compiled by: Greater Mankato Growth, Inc., greatermankato.com


“Our MSA’s economic dynamics and diversification coupled with our talent continue to work together and it shows”  said Jonathan Zierdt, president & CEO of Greater Mankato Growth, Inc. “I believe that our MSA continues to be a leader when it comes to business success and these numbers are proof of that.” 

While Greater Mankato MSA has lead the state in growth in year-over-year job growth the last two months, it came in at a very close second this month. The MSA had a growth rate of 2.1%, just .1% behind this month’s leader, the St. Cloud MSA.

When it comes to judging the economic strength of a region relative to jobs, one of the best sources is CES data, which measures the number of paid employees in a particular region, excluding self-employment and farm jobs.       

For more CES data and graphics, visit greatermankato.com/current-employment-statistics-jobs-data.

Another measure of area employment is the Local Area Unemployment Statistics (LAUS). LAUS is not as much an indicator of the strength of the business climate, because it measures the total number of people who live in a particular region who are employed, rather than the businesses in the region employing them. For more LAUS unemployment data, visit greatermankato.com/local-area-unemployment-statistics-laus.

 

About Greater Mankato Growth

Greater Mankato Growth (GMG) is committed to advancing business for a stronger community. As the Chamber of Commerce and Economic Development organization serving the regional marketplace, GMG advances business through: existing business support, new business growth, business promotion, talent development, public affairs, community marketing, visitor attraction and servicing and civic engagement. Greater Mankato Growth, Inc. also includes two LLCs: the Visit Mankato, LLC, which focuses on visitor attraction and servicing, and the City Center Partnership, LLC, which focuses on development in the City Center.    

 

About the Regional Economic Development Alliance

In 2009, the Regional Economic Development Alliance (REDA) began with a progressive group of communities and counties joining together with Greater Mankato Growth in business attraction and development efforts. REDA participants include Eagle Lake, Lake Crystal, Le Sueur, Madison Lake, Mankato, Saint Peter and Blue Earth County. By working together, the group is able to efficiently provide regional and individual city and county information to businesses interested in the Greater Mankato marketplace. As a result of promoting the individual strengths of each community, along with the combined assets of the regional marketplace, all experience collective success.

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contact: Amy Linde, 507.382.3993, alinde@greatermankato.com

The Greater Mankato Growth, Inc. Family: Visit Mankato City Center Partnership