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Greater Mankato Job Numbers Continue Rapid Growth
Mankato, MINN (March 21, 2013) – According to the Current Employment Statistics (CES) figures released today by the Minnesota Department of Employment an Economic Development, the number of jobs in the Mankato-North Mankato Metropolitan Statistical Area (MSA) in February grew by 1,142 jobs over the previous year (a 2.2% increase). Of the total jobs gained, 585 were private service producing ( 51%) and 449 were private goods producing (39%), with the remainder (108) in the public sector (10%).
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.
The MSA also saw month to month job growth, with an increase of 439 jobs from January to February. “The Greater Mankato region continues to show strength and gain attention within the state. The jobs gains reflect our marketplace’s vigilance and diversity in it’s businesses, community and employees.,” said Jonathan Zierdt, Greater Mankato Growth President and CEO.
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. Still, LAUS employment numbers for the MSA continue to look good, with a January 2013 regional unemployment rate of 5.6%, compared to the current U.S. unemployment rate of 8.1%. 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 Greater Mankato Convention and Visitors Bureau, 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, 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.