Twin Cities Metro: Minnesota Economic Trends recently highlighted the importance of Professional, Scientific, and Technical Services in the Twin Cities Metro Area. Not only is it already a highly concentrated sector in the metro, it was the fastest-growing industry in the region over the past five years.
Central Minnesota: Instead of trying to navigate through the Standard Occupational Classification (SOC) hierarchy that is universally used in economics, students can now use a new Tableau dashboard that arranges occupational data based on the Career Wheel that the Minnesota Department of Education and Minnesota State Colleges and Universities use.
Northeast Minnesota: Data from the Census Bureau’s County Business Patterns program shows that Northeast Minnesota relies heavily on small businesses, with just over 50 percent of establishments reporting less than 5 employees. Another 36 percent of businesses had between 5 and 19 employees, meaning only 13.7 percent of businesses in the region had 20 employees or more. Just 17 businesses in the region had more than 500 employees.
Northwest Minnesota: West Central Minnesota boasts a number of quality post-secondary institutions providing students a variety of options, from vocational training to post-graduate work. At the four-year university level, this includes Minnesota State University-Moorhead, Concordia College-Moorhead, and the University of Minnesota-Morris; while at the two-year college level, the region is home to Alexandria Technical and Community College (ATCC) and Minnesota State Community and Technical College (M-State) in Fergus Falls, Detroit Lakes, Moorhead, and Wadena.
Southeast Minnesota: By now it’s obvious that the Southeast region is in the midst of a labor shortage, with a job seeker-to-vacancy ratio of 0.6 to 1 – for every 10 job openings there are only six unemployed people. This is the lowest of the six regions in the state, tied with the metro region.
Southwest Minnesota: While the number of establishments was declining overall, Southwest Minnesota was seeing growth in the number of medium-sized businesses – those with between 10 and 99 employees – over the past decade. This is at least partly due to smaller businesses expanding, a great sign of economic growth for the region.
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