Tis the Season for Retail Trade
As Minnesota retailers work to draw in customers - and workers - for the holiday season, this month's Local Look blogs from DEED's Labor Market Information office focus on the importance and opportunities Retail Trade provides in every region of the state.
The holiday season is upon us, and what better way to celebrate than to analyze trends in Retail Trade? Whether it's topping off the car at the gas station, shopping for gifts at department stores or specialty shops, getting groceries or wine and beer, or just getting flowers to decorate, most of us rely on Retail Trade services during the holidays – and throughout the rest of the year.
Shopping is an important part of the holiday season, highlighting the presence of Retail Trade in the region. Through the second quarter of 2021, there were nearly 2,250 Retail establishments providing just over 36,000 jobs in the 13 counties of Central Minnesota, accounting for about 13.3% of total employment in the region. That means that one in every 7.5 jobs in the region is in Retail Trade.
By many accounts, Retail Trade has fared better than most other sectors since the onset of the pandemic. This was definitely true as measured by sales, which increased consistently since last year. By common labor market metrics, such as those tracked by DEED's Quarterly Census of Employment and Wages (QCEW), the Retail picture also looked relatively positive. While total employment in Northeast Minnesota fell 7.3% from the second quarter of 2019 to the second quarter of 2021, Retail Trade saw a relatively smaller -4.1% decline.
As Black Friday deals rolled out again, retail wasn't just offering a huge number of deals; retailers were also providing a huge number of jobs. In the second quarter of 2021, there were more than 2,350 Retail establishments providing just under 27,500 jobs in Northwest Minnesota. That was down about 800 jobs from pre-pandemic employment peaks, but up by almost 1,600 jobs compared to the second quarter of 2020.
Retail Trade accounted for 11% of the total jobs in the Southeast region in the second quarter of 2021, with 26,283 jobs at 1,657 employing establishments, after a big rebound from lows during the peak of the pandemic restrictions.
Retailers typically ramp up hiring as the holiday season approaches, looking for additional Cashiers, Retail Salespersons, and Stockers & Order Fillers, as well as First-line Supervisors and Store Managers. As Retail Trade employment continues to rebound in the region, demand for workers is at an all-time high. Southwest Minnesota regained more than 1,500 Retail Trade jobs over the past year and is now down only 273 jobs compared to pre-pandemic employment levels.
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