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June Job Numbers Paint the Picture for a Positive Mid-Year Overview
The Minnesota Department of Employment and Economic Development (DEED) released the Current Employment Statistics (CES) figures for the month of June today. Jobs reached the highest number on record during a June for the Mankato – North Mankato Metropolitan Statistical Area (MSA). Jobs totaled 55,851, up 555 jobs compared to June of 2014. This month also bucked seasonal trends seeing a rise in numbers from May to June where trends over the last two years have dipped from May to June.
Greater Mankato Growth also analyzed mid-year numbers, looking back at growth across all MN based MSAs. The Mankato – North Mankato MSA experienced the second highest growth rate in the state at .7%, tailing the MSP MSA by just .19%.
Mid-Year Overview of MN Based MSA Job Growth
MN Based MSA
2015 YTD Avg
*Source: CES, MN DEED and compiled by Greater Mankato Growth
“The capital investment the region is seeing in business development and housing development is booming this year” said Jonathan Zierdt, president & CEO of Greater Mankato Growth, Inc. “When you bring those two strong elements together, it fosters the development of additional job opportunities.”
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, visitgreatermankato.com/local-area-unemployment-statistics-laus.
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 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.