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Year over Year Job Growth Continues Strong for Greater Mankato
Mankato, MINN (November 15, 2012) – According to the Current Employment Statistics (CES) figures released today by the Minnesota Department of Employment an Economic Development, the number of jobs in the Mankato-North Mankato Metropolitan Statistical Area (MSA) in October grew by nearly 800 jobs over the previous year (a 1.5% increase). This is the 26th connesecutive month of year over year job gains for the region.
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 97% of the year over year job gains came from the private sector and 4% came from government.
The MSA also saw month to month job growth, with an increase of more than 900 jobs from September to October. “The job numbers since June of this year have been nearly identical to the figures of late 2008, with the trend line continuing to follow the trajectory of pre-recessionary 2007,” said Jonathan Zierdt, Greater Mankato Growth President and CEO.
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 a September 2012 regional unemployment rate of 4.6%, compared to 4.6% a year ago. For more LAUS unemployment data, visit greatermankato.com/local-area-unemployment-statistics-laus.
For more information, contact Shelly Megaw at 507.385.6642 or firstname.lastname@example.org.
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.