Mankato, MINN (January 22, 2014) – The Minnesota Department of Employment and Economic Development (DEED) released the Current Employment Statistics (CES) figures for the month of December today. The Mankato – North Mankato Metropolitan Statistical Area (MSA) had a total of 57,633 jobs, up 3.7% from last December and down .8% from November which follows seasonal trends.
The MSA again led all Minnesota based MSAs in job growth by more than double the rate of the next highest growth rate in the state (3.7%, 1.8% respectively).
Along with leading the way in job growth for all Minnesota based MSA’s, area growth also comes in higher than the national and state averages for the month of December.
MSA Growth Rate Comparison
All major sectors of private industry grew between 3.3 - 3.8% year-over-year with private sector jobs growing at 5.6%.
“The performance of the marketplace continues to grow at an economically strong and healthy pace” said Jonathan Zierdt, President & CEO of Greater Mankato Growth, Inc. “The vitality of our marketplace has not gone unnoticed, with reports such as this we continue to capture the attention of business and community leaders across the state which then brings further visibility and success for the 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.
contact: Amy Linde, 507.382.3993 or email@example.com