You are here
Mankato – North Mankato MSA Leading State in Goods Producing Job Growth in 2014
Mankato, MINN (August 14, 2014) – The Minnesota Department of Employment and Economic Development (DEED) released the Current Employment Statistics (CES) figures for the month of July today. The Mankato – North Mankato MSA experienced 2.4% growth in year-over-year numbers with a total of 53,804 jobs, the highest ever seen during a July in the MSA.
While we reach new records during July, there was a dip in month to month numbers. The MSA experienced a 3.1% loss in jobs from June to July but it isn’t alarming, as this follows seasonal patterns. (see graph below)
Other benchmarks this month include service and private service sectors seeing the highest numbers ever, as well as seeing goods producing jobs reach the highest point since the recession (December 2008). Also, the MSA continues to set the pace for growth experienced this year in goods producing jobs at 1.7%.
Goods Producing Job Growth
(2014 average year to date vs 2013 average)
“Diverse industries is what brings strength to our local economy,” said Jonathan Zierdt, president and CEO of Greater Mankato Growth, Inc. “Because our businesses are succeeding, so are the employees, community and region.”
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.