Regional Analysis
This month's Local Look blogs explore a variety of topics, including details on veterans in the Twin Cities, occupations in demand in Central Minnesota, long-term projections in Northwest, the Leisure & Hospitality industry in Southwest, and employee turnover rates in Southeast. Finally, the Northeast blog uses SLEDS data to show what high school students do after they graduate. For more local information on any of these topics, please reach out to your Regional Analyst!
Veterans Day, was Monday, November 11, and we were excited to recognize and honor military veterans across the state of Minnesota and the United States. Census data provides some useful details about veterans in the Minneapolis-St. Paul Metropolitan Statistical Area (MSA), including a breakdown by age and disability status, and how veterans contribute to the region's labor market. DEED also has a lot of resources that veterans can utilize, including CareerForce and the Minnesota Department of Veterans Affairs.
Central Minnesota's job market provides a wide range of occupations experiencing high demand across various career clusters. DEED's interactive Career Pathways tool highlights some of the hottest jobs in the region, offering insights for job seekers and career changers.
A common topic of conversation throughout the workforce development, economic development and education worlds is the movement and behavior of young people as they graduate from high school. This is a question that the Statewide Longitudinal Education Data System (SLEDS) dataset can provide some insight into. Of the nearly 3,100 students that graduated from public high schools in the 7-county Northeast Minnesota region in 2022, just over half (54%) opted to enroll in some type of postsecondary program the following fall.
DEED's newest round of long-term projections have been published, showing the employment outlook through 2032 in each region of Minnesota as well as statewide. The regional employment outlook is particularly useful to guide workforce investments and career decisions. Individuals and workforce development agencies alike want these investments to continue to pay off for a long time. Total employment in Northwest is expected to increase by over 10,300 jobs, a 3.9% growth, from about 265,300 jobs in 2022 to 275,600 in 2032.
Employee turnover represents one of the most significant challenges facing businesses today, impacting both operations and financial performance. When employees leave, companies must absorb substantial costs in recruitment, training and lost productivity. High turnover can disrupt team dynamics, reduce operational efficiency and result in loss of institutional knowledge. Annual average data from the 2022 Quarterly Workforce Indicators (QWI) program shows turnover patterns vary substantially across age groups, industries and wage levels in Southeast Minnesota.
With nearly 14,750 jobs at more than 1,100 establishments in the second quarter of 2024, the Leisure & Hospitality industry helps make people feel at home in Southwest Minnesota. With 8.4% of total employment, one in every 12 jobs in the region is in Leisure & Hospitality. However, that is the lowest share of the six regions in the state, and 1.5% lower than the state as a whole. Despite the lower concentration, Southwest Minnesota saw the fastest employment gain in Leisure & Hospitality in the state over the past year, well ahead of the other five regions.
Minnesota Economic Trends
Every quarter, the Labor Market Information (LMI) Office publishes research articles that offer insights into important labor market trends. The September issue of Trends includes articles about Minnesota's exposure to Artificial Intelligence, long-term employment projections, industry and occupational definitions of green jobs and clean energy employment, and a visual exploration of recent employment trends.
Please reach out to your regional analyst if you or your staff would be interested in having a customized LMI training session. We would be happy to accommodate your training requests, either on LMI Data Tools or local economic conditions!
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