07 أبريل

Posted at 12:10h in تطوير الاعمال, تنمية المواهب by
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Preliminary figures for February were released Wednesday by the Bureau of Labor Statistics. Between January & February, Greater Mankato saw employment growth of 900 to a post-pandemic high of 60,194. Jobs (total nonfarm payroll) increased by 700 to 56,000. In short, the difference between jobs and employment is that the jobs number counts the number of paychecks being issued in Greater Mankato and employment counts the number of people who live in Mankato who work. A deeper explanation of the difference between these two statistics and why the number of jobs is less than employment can be found at the end of the January employment figure report.

Unemployment decreased by 342 and the labor force grew by 558. The growth in employment and labor force comes on top of January numbers that have been adjusted up by 200 since they were released last month.

The employment numbers in our region and the jobs numbers in our region paint two very different pictures of the talent shortage. Employment is at its highest point since the beginning of the pandemic and is down by less than 400 compared to February 2020. This tells us that the vast majority of people in our region have returned to work in some form. In contrast, jobs are down by 2,800 compared to February 2020. This helps explain why there are so many businesses short workers despite the labor force return in Greater Mankato. There are a number of possible reasons for this difference:

07 أبريل

Posted at 12:10h in تطوير الاعمال, تنمية المواهب by
0 Likes

Preliminary figures for February were released Wednesday by the Bureau of Labor Statistics. Between January & February, Greater Mankato saw employment growth of 900 to a post-pandemic high of 60,194. Jobs (total nonfarm payroll) increased by 700 to 56,000. In short, the difference between jobs and employment is that the jobs number counts the number of paychecks being issued in Greater Mankato and employment counts the number of people who live in Mankato who work. A deeper explanation of the difference between these two statistics and why the number of jobs is less than employment can be found at the end of the January employment figure report.

Unemployment decreased by 342 and the labor force grew by 558. The growth in employment and labor force comes on top of January numbers that have been adjusted up by 200 since they were released last month.

The employment numbers in our region and the jobs numbers in our region paint two very different pictures of the talent shortage. Employment is at its highest point since the beginning of the pandemic and is down by less than 400 compared to February 2020. This tells us that the vast majority of people in our region have returned to work in some form. In contrast, jobs are down by 2,800 compared to February 2020. This helps explain why there are so many businesses short workers despite the labor force return in Greater Mankato. There are a number of possible reasons for this difference:

18 مارس

Posted at 13:08h in تطوير الاعمال, تنمية المواهب by
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The Bureau of Labor Statistics has released preliminary January data for their Local Area Unemployment Statistics (LAUS) and Current Employment Statistics (CES) reports. In these reports, we saw that the number of employed individuals living in the Mankato-North Mankato MSA rose by 366 while the number of jobs being worked (total nonfarm payroll) in our region dropped by 900 (information on the difference between employed individuals & jobs data can be found at the end of this blog post).

The number of non-farm jobs being worked in our region dropped from 56,300 in December 2021 to 55,400 in January 2022, a 1.6% decrease. In contrast, the number of employed individuals rose from 58,716 to 59,082 over the same period, a 0.6% increase. Individuals entering the labor force rose by an even higher 1.1% (688) people. Between December 2021 and January 2022, the labor force rose from 60,050 to 60,638 - its highest point since November 2020.

07 مارس

Posted at 12:31h in المناصرة by
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The legislature is off and running full steam ahead! This the second year of the 2-year (biennial) legislative session. There are several themes that have been consuming the discussion early on: budget surplus, bonding, unemployment insurance trust fund, redistricting, and COVID closures. Here is a brief update on each area.

Budget Surplus

In 2021, the state passed a 2-year budget of $52 billion, a record level of spending. A key part of our budget is revenue, how much the state collects in taxes, fees, federal funds, etc. The state uses a forecasting model to try and make an educated guess of how much money will be collected (and spent) during the biennium. The state then updates their projections throughout the year with periodic “budget forecasts,” which update the revenue and expense projections. In November 2021, the state projected a budget surplus of $7.7 billion. As of Monday February 28th (the “February forecast”), that budget surplus jumped to $9.3 billion. The legislature does not technically need to do anything, they already passed a budget in 2021. However, ideas range from giving it back in the form of rebate checks, reducing taxes, or spending on new or existing programs. Governor Walz has proposed nearly tripling proposed rebate checks ("Walz Checks") to $500 and $1,000 for qualifying individuals and couples. Senate Republicans have proposed permanently reducing the first tier individual income tax rate from 5.3% to 2.8% and eliminating income tax on social security income. House Speaker Melissa Hortman and DFL leaders have been cautious and suggested putting more in reserves while also providing unspecified support for families who continue to struggle through the pandemic.

21 فبراير

Posted at 13:23h in المناصرة by
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The Greater Mankato Growth board of directors recently adopted the 2022 Policy Priorities. A key area of focus at Greater Mankato Growths is "Advocacy of the Marketplace". As such, GMG adopts a set of policy priorities annually. These priorities represent important issues that we focus on throughout the year. We work with elected officials at all levels of government to ensure that policies are enacted that are pro-business and help our regional economy grow.

These priorities are the result of numerous points of input. We conducted a policy survey in October 2021, hosted the Minnesota Chamber of Commerce in Mankato for a small-group discussion, and our Public Affairs Steering Committee meets monthly with leaders from nearly all industry sectors represented.

In 2022, our policy priorities include the following focus areas:

Economic and Workforce Development

التنافسية الضريبية

الاستثمارات الاستراتيجية

الرعاىة الصحية

رعاية الأطفال

Support Partner Organization

To view the full details of our 2022 Policy Priorities, click the image below or visit our Advocacy webpage.

Advocacy webpage

14 سبتمبر

Posted at 12:32h in تطوير الاعمال by
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The Minnesota Department of Employment and Economic Development (DEED) has announced that the Minnesota Main Street COVID Relief Grants Program applications will be accepted as of Monday, September 20, 2021. This program, approved by the Minnesota State Legislature and signed by Governor Tim Walz on June 30, will offer $64,200,000 in grants for Minnesotan-owned and operated businesses that can demonstrate a financial hardship due to the COVID-19 pandemic.

19 أغسطس

Posted at 14:55h in المناصرة by
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Minnesota’s 92nd legislative session ended their 2021 regular session on May 17th without a budget. The Governor and Legislative leaders instead released a budget framework with a target of $52 billion for the next biennium. Lawmakers worked for four weeks on final details largely outside of the public eye until they convened a special session on June 14th. All spending bills were passed and signed into law by June 31st.

The need for a special session was largely due to a late infusion of funding from the American Rescue Plan Act (ARPA) that was signed into law by President Biden on March 11, 2021. Roughly $8.5 billion was allocated in the bill to the State of Minnesota for various programs.

Budget

A final budget of $52 billion was signed into law on June 31, 2021. This biennial budget is an increase of approximately $1.3 billion over the previous budget – much of that one-time funding from ARPA. Included in the bill are direct tax cuts of $644 million to people who lost jobs and employers who kept people working during the pandemic.

Paycheck Protection Program

The final tax bill included full conformity to federal tax law with regards to the Paycheck Protection Program at a cost of roughly $375 million in fiscal year 2022. Businesses and organizations that received PPP loans will not be subject to either federal or state income tax on the amount of the loan received.

19 أغسطس

Posted at 14:55h in المناصرة by
0 Likes

Minnesota’s 92nd legislative session ended their 2021 regular session on May 17th without a budget. The Governor and Legislative leaders instead released a budget framework with a target of $52 billion for the next biennium. Lawmakers worked for four weeks on final details largely outside of the public eye until they convened a special session on June 14th. All spending bills were passed and signed into law by June 31st.

The need for a special session was largely due to a late infusion of funding from the American Rescue Plan Act (ARPA) that was signed into law by President Biden on March 11, 2021. Roughly $8.5 billion was allocated in the bill to the State of Minnesota for various programs.

Budget

A final budget of $52 billion was signed into law on June 31, 2021. This biennial budget is an increase of approximately $1.3 billion over the previous budget – much of that one-time funding from ARPA. Included in the bill are direct tax cuts of $644 million to people who lost jobs and employers who kept people working during the pandemic.

Paycheck Protection Program

The final tax bill included full conformity to federal tax law with regards to the Paycheck Protection Program at a cost of roughly $375 million in fiscal year 2022. Businesses and organizations that received PPP loans will not be subject to either federal or state income tax on the amount of the loan received.

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