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Mankato-North Mankato Leading the State in Private Sector Job Growth

(June 19, 2014) MANKATO, MINN – The Minnesota Department of Employment and Economic Development (DEED) released the Current Employment Statistics (CES) figures for the month of May today. The Mankato – North Mankato MSA experienced 2.0% growth in year-over-over numbers with a total of 55,477 jobs.

A significant factor in the growth experienced in the marketplace is attributed to gains in private sector jobs. The MSA experienced 3.6% year-over-year growth with a total of 46,695 jobs in the private sector and has led the state with an average 3.51% growth rate from January to May.

Private Sector Job Growth Rate Average

(for January- May 2014)

MSA

Growth

Mankato – North Mankato

3.51%

St. Cloud

3.01%

Minneapolis – St. Paul

1.48%

Duluth

.75%

Rochester

-.08

 

 

 

 

 

 

 

 

 

 

 

 

Looking closer at private sector job growth, goods producing jobs rose by 4.3% from May 2013, breaking the 10,000 mark, the highest number seen since December of 2008. Also, service providing jobs lead the state with 3.3% growth.

“Just driving around the region you can’t help but notice the growth happening in the marketplace right now” said Jonathan Zierdt, President & CEO of Greater Mankato Growth, Inc. “This appears to be just the beginning for the region, with millions of dollars in construction projected to happen this year and next, current trends are likely to continue and even surpass many records.”

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, 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.

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The Greater Mankato Growth, Inc. Family: Visit Mankato City Center Partnership