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June Job Numbers Set Pace for Growth Records
(July 17, 2014) MANKATO, MINN – The Minnesota Department of Employment and Economic Development (DEED) released the Current Employment Statistics (CES) figures for the month of July today. Numbers remain positive for the Mankato – North Mankato Metropolitan Statistical Area (MSA) with June numbers coming in at 55,493, up 868 jobs from June of last year, a growth of 1.6%.
The positive gains in June contribute to the now 43 out of the past 46 months of positive growth seen in year over year numbers.
The first half of 2014 is pointing towards a record setting year for overall job numbers in the marketplace. Every month in 2014 has seen a gain in year over year jobs of between 1,199 – 1,854 gains. June numbers gave the overall 2014 average a boost, landing us at 55,109 average jobs per month, the next highest number was experience pre-recession in 2007 at 54,195.
“With the positive pattern experienced not only this year but through most of the last four years, the marketplace has shown its economic stability, perseverance and health,” said Jonathan Zierdt, President & CEO of Greater Mankato Growth, Inc. “We can’t point out one or two things that make this economy successful, but we do know that because Greater Mankato is committed to it’s businesses, talent, education and livability, we have the major ingredients that makes our region very attractive to both employers and employees.”
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/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 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.