Understanding Minnesota’s Regional Economy

Presenter: Cameron Macht, DEEDHost: Denise Felder, iSeek Solutions

To Hear the Webinar: Call (646) 307-1720; Access Code: 921-652-630

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To Hear the Webinar: (646) 307-1720Access Code: 921-652-630(long distances fees may apply)

Understanding the Regional EconomyiSeek Solutions Monthly Webinar

February 13, 2013

Cameron MachtRegional Labor Market Analyst

320-441-6567cameron.macht@state.mn.us

www.positivelyminnesota.com

To Hear the Webinar: Call (646) 307-1720; Access Code: 921-652-630

To Hear the Webinar: Call (646) 307-1720; Access Code: 921-652-630

Over-the-year regional trends

Source: MN Dept of Employment & Economic Development

• None of theregions areback to break-even (fromQ2 2007) yet

• Southeast (99%)is closest, all arenow above 97%

Regional Unemployment Rates

Source: MN Dept of Employment & Economic Development

DEED Regional Data ToolISEEK’s Regional Websites

ISEEK Regional Websites

www.iseek.org/jobs/regional.html

Regional Labor Market Data Tool

• The regional data tool brings together labor market and relevant demographic data on each county and region in Minnesota in to one easy-to-use website.

• View and download regional data, charts and graphs.

www.PositivelyMinnesota.com/RD

Regional labor market data tool

Regional Employment Projections

Forecasting Future Job Trends

• Minnesota’s economy will grow by 13%, or 368,000 new jobs, between 2010 and 2020.

• Over 663,000 new workers will be needed to take jobs left vacant through retirements and replacements.

• Employment changes depend on the demand for goods and services, productivity advances, technological innovations, and shifts in business practices.

www.PositivelyMinnesota.com/EOSource: MN Dept of Employment & Economic Development

Health care will add the most new jobs in Minnesota between 2010 and 2020

Source: MN Dept of Employment & Economic Development

Health services will continue to lead job growth in Northeast MN

Half of new jobs in Northwest MN will be in education and health services sector

Fastest job growth expected in Central Minnesota

Education and health care will dominate Southeast MN job growth

Southwest MN projected to have slowest regional job growth

Construction and manufacturing job growth to remain below pre-recessionary levels in the Twin Cities

Replacement openings to exceed new job growth in all regions of MN

Occupational details are important when choosing a future career

Questions?

Contact Us:• Cameron.Macht@state.mn.us • Denise.Felder@ISEEK.org

Regional LMI Websites

ISEEK Regional Websites: www.iseek.org/jobs/regional.html

DEED Regional Labor Market Tool: www.PositivelyMinnesota.com/RD

DEED Employment Outlook: www.PositivelyMinnesota.com/EO

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