Springing into Action
This month's blogs look at dynamic new data across the state. The Twin Cities blog looks at the emergence of Construction employment in the spring, while Southeast highlights the emerging Hispanic or Latino population and labor force. Central examines employment by size of employer establishments, Northeast digs into the importance of benefits in overall compensation, and Northwest tracks the placement of postsecondary completers in the region. Finally, Southwest looks at the growth in ages and wages over the past 20 years. For more local information, please reach out to your Regional Analyst!
In the Metro Area, the Construction industry sector has averaged a 14.7% bump in employment between the first and second quarter every year going back to 2000 (excluding those losses witnessed in 2020 due to COVID). This is equivalent to about 8,800 additional jobs during second quarter over first quarter each year.
Central Minnesota stands as a microcosm of economic activity, where the size and composition of businesses reflect broader employment trends. Despite the dynamic nature of the business world, a significant portion of establishments across various industries have demonstrated remarkable resilience in maintaining their size over time. While fluctuations and shifts occur within individual sectors and regions, many businesses have found stability in their operations and scale.
The role of benefits in overall compensation deserves a deeper look, especially as employers are exploring every way possible to be more attractive to jobseekers. Given two employers with equal wages, a next possible point of comparison becomes the respective benefits packages. What does the typical benefits package look like and how does it differ by occupation, industry, and private vs. public sector?
DEED's Graduate Employment Outcomes (GEO) Tool provides actual employment and wages of college program completers. This blog focuses on less-than-two-year programs offered in the Northwest that have the largest number of completers working in the Northwest region. The tool also provides the same information for two- and four-year degree programs, and for completers working anywhere in Minnesota. However, certificate and diploma programs – often called vocational programs – provide the shortest on-ramp to many careers that require postsecondary training.
In 2022, the 11-county Southeast Region reported a total population of 517,713 people, of which nearly 32,000 individuals, or 6.1%, identified as Hispanic or Latino. This demographic has seen a significant increase, growing by 33.2% since 2011, which translates to a gain of almost 8,000 additional people. The Hispanic and Latino community is increasingly becoming a crucial part of the demographic makeup and workforce in Southeast Minnesota.
Two trends are abundantly clear when analyzing Quarterly Employment Demographics over the past two decades. Both ages and wages have been increasing for workers in Southwest Minnesota, showing a clear shift in the region's workforce. In the first quarter of 2023, almost one quarter (24.9%) of jobs in Southwest Minnesota are held by workers who are 55 years and over, up from just 15.4% 20 years ago.
LMI Training Sessions - Sign up Today!
DEED's Regional Analysts have scheduled a set of Labor Market Information training sessions for the spring of 2024. These hands-on in-person and virtual training sessions will help attendees learn where to find and how to use DEED’s labor market information data tools. Attendees will navigate data tools on our website (mn.gov/deed/data/) and learn how to use them to understand the local economy and provide guidance to jobseekers and others.
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