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Largest January Private Sector Jobs on Record for the Mankato – North Mankato MSA
Mankato, MINN (March 10, 2016) – The Minnesota Department of Employment and Economic Development (DEED) released the Current Employment Statistics (CES) figures for the month of January recently. The Mankato – North Mankato Metropolitan Statistical Area (MSA) had a total of 55,529 jobs, up 1.9% from last January and the best January ever on record.
Overall growth was driven by the private sector. This sector experienced 2.3% year-over-year growth, the largest gain in a January since 2006.
Jonathan Zierdt stated “These kind of numbers lay the foundation for another healthy economic year across the region. Private sector job growth indicates business and investment confidence in the marketplace.”
DEED also announced revised job figures from the previous two years based on updated data from the federal Bureau of Labor Statistics. In the Mankato – North Mankato MSA the 2015 revision showed an increase of 209 private sector jobs and a reduction of 108 public sector jobs for a net improvement versus the preliminary 2015 job estimates of 101 jobs. This further strengthened 2015 as the MSA's highest year for employment.
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.