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All-time High Employment Numbers for the Mankato – North Mankato MSA Lead the State
Mankato, MINN (October 16, 2014) – The Minnesota Department of Employment and Economic Development (DEED) released the Current Employment Statistics (CES) figures for the month of September today. The Mankato – North Mankato Metropolitan Statistical Area (MSA) experienced 3.4% growth rate (or 1,853 jobs) in year-over-year job numbers, the top in the state and recorded an all-time high of 56,210 jobs.
For the past 46 of 49 months, the MSA has experienced positive year-over-year job growth with the last 25 month consecutive months being positive.
Not only was the highest total jobs number reached but also the private sector reached a new record, surpassing the 47,000 mark for the first time. This number is also significant because it shows a large gain, 3.7%, in private sector jobs from September of last year. The next closest MSA in the state for growth in this sector was Saint Cloud at 2.8%.
“This is an important benchmark for our marketplace” said Greater Mankato Growth President & CEO Jonathan Zierdt. “This type of growth shows the investment and confidence of our business community, it is a time for the region to celebrate its success.”
Private sector job growth was led by goods producing jobs (also growing 3.7% year-over-year). This is the highest goods producing since pre-recession, December 2008.
Jobs in the Government sector reached a significant milestone in September. Growth was experienced in year-over-year numbers for this first time in this sector since 2006.
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, North 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.