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Private Sector Jobs Position Economy for Strong Second Half of Year
Mankato, MINN (August 18, 2016) – 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 Metropolitan Statistical Area (MSA) had a total of 54,993 jobs, up 1.7%, or 924 jobs, from last July.
This marks the largest total employment increase in July since 2011. The private sector reached an all-time high for the month of July with 47,349 jobs.
The MSA has reoccurring seasonal patterns in employment throughout the year. However, in 2016 the private sector has shaken off these trends in a positive way. There has never been consecutive job growth in May, June, and July within the Greater Mankato area. Due to hiring patterns in a variety of industries, the MSA has typically shed jobs in one or two of these months. In 2016, we have seen private sector maintain the employment levels and even added 33 jobs.
Private Service Providing jobs, making up over two-thirds of the area’s occupations, saw an increase of 2.9% or 1,033 jobs. Government jobs took the perennial plunge in the month of July. From June to July each year, the government sector sheds roughly 1,600 jobs. However, the government sector did increase 27 jobs from this time a year ago.
“2016 continues to produce new all-time employment highs month after month while shattering season trends,” said Jonathan Zierdt, president & CEO of Greater Mankato Growth, Inc. “The ability to maintain employment levels through months that have typically been more tumultuous in the past puts us in a position to finish the year strong.”
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 (GMG) is committed to advancing business for a stronger community. As the Chamber of Commerce and Economic Development organization serving the regional marketplace, GMG 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. includes two affiliates: Visit Mankato, which focuses on visitor attraction and servicing, and the City Center Partnership, 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.