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2016 Job Growth Remains Steady across the Mankato – North Mankato MSA
Mankato, MINN (June 16, 2016) – The Minnesota Department of Employment and Economic Development (DEED) released the Current Employment Statistics (CES) figures for the month of May today. The Mankato – North Mankato Metropolitan Statistical Area (MSA) had a total of 56,502 jobs, up 1.2%, or 662 jobs, from last May.
Last month’s job growth is the largest increase in May employment since 2013. Further, average job growth over the first five months of the year is up 1.34%, outpacing last year’s growth over the same time period.
“Job growth in 2016 is off to a good start” said Jonathan Zierdt, president & CEO of Greater Mankato Growth, Inc. “Our MSA continues on pace to see the highest employment in our history and eclipse an average of 56,000 jobs for the first time. At the same time, we continue to focus on how to attract and retain more talent to our region so that we can continue to grow our economy.”
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/workforce-labor-statistics.
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 exists to intentionally develop the regional center by promoting, supporting and serving as a catalyst for economic development through business growth, retention and attraction, talent growth retention and attraction, regional livability and advocacy of the marketplace. Greater Mankato Growth, Inc. includes two affiliates: Visit Mankato, which focuses on visitor attraction and servicing, and the City Center Partnership, 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, North Mankato, Saint Peter, Blue Earth County and Nicollet 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.