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Second Highest Ever Year Over Year Job Numbers for Greater Mankato

Mankato, MINN (November 20, 2012) – According to the Current Employment Statistics (CES) figures released today by the Minnesota Department of Employment and Economic Development, the number of jobs in the Mankato-North Mankato Metropolitan Statistical Area (MSA) in November grew by nearly 1,200 over the previous year (a 2.2% increase). In addition to this being the 27th consecutive month of year over year job gains for the region, it is also the second highest number ever for the region at 55,074, compared to the highest number of 55,207 set in November, 2007.   

 

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. Approximately 83% of the year over year job gains came from the private sector and 17% came from government.   

 

From October to November, month-to-month job numbers typically remain steady. This year the Mankato-North Mankato MSA added 304 jobs during this time.

 

“The Greater Mankato region’s job numbers have been strong throughout 2012. The average monthly year over year job gain for Greater Mankato between January and November, 2012 was 1,290 jobs or 2.5%,” said Greater Mankato Growth President & CEO Jonathan Zierdt. “While the state of Minnesota continues to gain momentum at an average monthly job gain of 1.3% in 2012, Greater Mankato’s numbers are even more impressive.” said Greater Mankato Growth President & CEO Jonathan Zierdt.

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. Still, LAUS employment numbers for the MSA continue to look good, with an October 2012 regional unemployment rate of 4.4%, the same as a year ago. 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 Greater Mankato Convention and Visitors Bureau, 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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contact:          Amy Linde, (507) 382.3993 | alinde@greatermankato.com

                                                               

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