Year over Year Job Numbers Increase for 21 Consecutive Months

news release
FOR IMMEDIATE RELEASE

contact: Shelly Megaw, (507) 381.0404
 smegaw@greatermankato.com

Year over Year Job Numbers Increase for 21 Consecutive Months

Month to Month numbers decrease for public sector, but increase for private sector

Mankato, MINN (June 14, 2012) – The Minnesota Department of Employment and Economic Development (DEED) today released job figures for the Mankato-North Mankato Metropolitan Statistical Area (MSA), which includes Blue Earth and Nicollet counties.

When it comes to judging the economic strength of a region relative to jobs, one of the best sources is Current Employment Statistics (CES) data, which measures the number of paid employees in a particular region, excluding self-employment and farm jobs. According to May CES data released today, Greater Mankato had its 21^st consecutive month of year over year job gains. “The bottom line is that compared to one year ago, we have 418 more private sector jobs and 81 fewer public sector jobs, resulting in a total job gain of 337  jobs,” said Jonathan Zierdt, President & CEO of Greater Mankato Growth. The Mankato-North Mankato MSA had the second highest year over year job growth of any MSA just behind Minneapolis-St. Paul-Bloomington.

May Year Over Year Job Increases for MN MSAs
(rounded to the nearest hundred)

Source: CES, Minnesota Department of Employment & Economic Development (DEED)
Compiled by: Greater Mankato Growth, Inc. | greatermankato.com | 507.385.6640 | info@greatermankato.com

The area has seen month to month job loss for the three months (586 fewer jobs in May than February), which Zierdt indicated is something to watch. “We started out the year quite high, so these month to month decreases may just represent a stabilization of the job numbers. But it’s really the year over year job numbers we need to look at to see the full story.”

For more CES job number data and graphics, visit greatermankato.com/business-jobsdata.php.

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 continue to look good, with an April 2012 regional unemployment rate of 4.2%, compared to 5.1% a year ago. For more LAUS unemployment data, visit greatermankato.com/business-unemploymentdata.php.

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.

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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