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First Quarter saw Strongest Job Growth Since 2013 | For the Mankato – North Mankato MSA
Mankato, MINN (April 14, 2016) – The Minnesota Department of Employment and Economic Development (DEED) released the Current Employment Statistics (CES) figures for the month of March today. The Mankato – North Mankato Metropolitan Statistical Area (MSA) had a total of 56,132 jobs, up 1.4% from last March.
Private service providing jobs were the standout growth employment sector with a 3.3% gain, or 1,189 jobs. However, a softening in goods producing employment continued with a decline of 3.8%, a loss of 371 jobs.
Over the first quarter of 2016, Greater Mankato saw an average increase of 1.5% in total jobs from 2015. This represents the best first quarter since 2013 (1.9%). Additionally, Greater Mankato Growth evaluated data from finalized 2015 employment figures. The yearly average total employment in the Mankato – North Mankato MSA rose to 55,758 in 2015, up 1.3% from 2014’s average employment. This was the fastest growth rate in employment of all Greater Minnesota based metropolitan areas and second state-wide (Minneapolis – St. Paul’s employment grew 1.9%).
“The pace of our first quarter employment figures sets the stage for another great year. Strong job growth early in 2016 will position our metropolitan area to again lead Greater Minnesota in employment growth as we did in 2015” said Jonathan Zierdt, president & CEO of Greater Mankato Growth, Inc. “However, we continue to keep a close eye on the goods producing industry in particular. In our region this sector has continued to feel the global constriction facing manufacturing.”
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.