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Steady Employment Growth Reaches 60K
Mankato, MINN (October 18, 2018) – The Minnesota Department of Employment and Economic Development released the September 2018 employment figures today. The Mankato – North Mankato Metropolitan Statistical Area (MSA) saw a gain of 1,858 jobs or 3.2% year over year in the month of September, which led all metropolitan areas in the state. This is the ninth straight month of Mankato-North Mankato leading the state in job growth.
The 3.2% employment growth has only crept above 3% once before in the last 20 years (4.1% in 2011 coming out of the national recession). Unemployment has continued to decline as employers continue to implement new tactics to reinvent vacant positions and aggressively recruit prospects. This is the first time that employment in September in the Greater Mankato area has exceeded 60,000 (60,339).
Private sector employment has shown steady growth in 2018 and has been the least volatile year on record for ebbs and flows in seasonal employment trends from month to month.
All sectors reported employment growth. Public sector employment grew 9.6%, Manufacturing grew by 4.4%, and Service Providing occupations grew by 2.9%
Hourly earnings have increased again as well. The private sector wages increased by $0.93 per hour to $25.96 per hour.
“Our economic stability, due to industry diversification, ensures we aren’t subject to booms or busts other regional centers face,” said John Considine, Director of Regional Business Intelligence at Greater Mankato Growth. “The 2018 employment growth has been remarkably stable and reaffirms employer confidence in the marketplace.”
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About Greater Mankato Growth
Greater Mankato Growth, the regional chamber of commerce and economic development organization, is a business unit of Greater Mankato Growth, Inc. (GMG) which also includes the local convention and visitor's bureau, Visit Mankato, the downtown development organization, City Center Partnership and GreenSeam, which utilizes agriculture to build on the region’s extensive agribusiness assets to develop the ag economy.
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, Madison Lake, Mankato, North Mankato, Saint Peter and Blue Earth and Nicollet Counties. 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.