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December sees Record High Number of Job Numbers in the Mankato – North Mankato MSA
Mankato, MINN (January 21, 2016) – The Minnesota Department of Employment and Economic Development (DEED) released the Current Employment Statistics (CES) figures for the month of December today. The Mankato – North Mankato Metropolitan Statistical Area (MSA) had a total of 56,463 jobs, up .1% from last December and down .2% from November which follows seasonal trends.
This December figure of 56,463 jobs marks the highest December number ever for the Mankato – North Mankato MSA. For the entire year of 2015, the total average jobs were up .69% over 2014 at 55,657 jobs.
The largest area of growth in the marketplace this month was seen in the government sector at a 5.5% increase in jobs year-over-year. Other gains in sectors included a .1% increase in service providing jobs and a .2% increase in goods producing jobs.
“While 2015 was a strong year overall, it continued to build on and follow prior trend lines, setting new overall highs. However our economy interfaces with the global marketplace and we continue to keep an eye on the relationship of this marketplace to the overall global economy” said Jonathan Zierdt, president & CEO of Greater Mankato Growth, Inc.
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, Inc. 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., the regional Chamber of Commerce and Economic Development organization, includes two LLCs: 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, 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.