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Steady Job Growth Continues, Future Workforce Retention and Attraction a Focus
The Minnesota Department of Employment and Economic Development (DEED) released the Current Employment Statistics (CES) figures for the month of April today. The Mankato – North Mankato Metropolitan Statistical Area (MSA) had a total of 56,1648 jobs, up 1% from last April.
Private service providing jobs were the standout growth employment sector for the second month in a row with a 2.3% gain, or 835 jobs. However, a softening in goods producing employment continued with a decline of 2.3%, a loss of 220 jobs.
Even with the tightening in the workforce, the MSA is on track to eclipse an average of 56,000 jobs in our economy for the first time in our history.
“Greater Mankato Growth (GMG) understands that future growth in our workforce depends on our region’s ability to attract and retain the talent that our businesses need” said Jonathan Zierdt, president & CEO of Greater Mankato Growth, Inc. “That’s why GMG has formed a talent fulfillment initiative to help change the trajectory of predicted workforce shortages.”
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.