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![Page 1: Demographics Point To An Increased Role For Training Tom Gillaspy, State Demographer Mn Dept of Administration May 2009.](https://reader036.fdocuments.net/reader036/viewer/2022081605/5a4d1ae07f8b9ab059976cb1/html5/thumbnails/1.jpg)
Demographics Point To An Increased Role For Training
Tom Gillaspy, State DemographerMn Dept of Administration
May 2009
![Page 2: Demographics Point To An Increased Role For Training Tom Gillaspy, State Demographer Mn Dept of Administration May 2009.](https://reader036.fdocuments.net/reader036/viewer/2022081605/5a4d1ae07f8b9ab059976cb1/html5/thumbnails/2.jpg)
Minnesota Has Been Very Successful
(Especially For A Cold Weather State at the End of the Road)
• Our economic growth rate has exceeded the national average
• Our population growth rate leads the frost belt
• We rank with the leaders on many social and economic indicators
• Education has been a key contributor to the state’s success
![Page 3: Demographics Point To An Increased Role For Training Tom Gillaspy, State Demographer Mn Dept of Administration May 2009.](https://reader036.fdocuments.net/reader036/viewer/2022081605/5a4d1ae07f8b9ab059976cb1/html5/thumbnails/3.jpg)
Minnesota Ranks Highly in Many Social/Economic Indicators
• 3rd percent of 16-64 employed (76.7%) Statistically tied with 6 states for first
• 2nd cost of living adjusted per capita income (OK DOC)
• 8th lowest poverty rate • 1st percent with health
insurance 2004-06 ave• 10th median family income 13%
above the nation• 2nd Kids Count 2008• 4th most livable state (Morgan
Quinto Press)
• 3rd lowest rate of disability among people age 21-64
• 2nd with at least high school degree (91%) statistically tied with Wyoming
• 11th with at least a bachelor’s degree
• 1st home ownership (75.2%)• 4th United Health Foundation
ranking of state healthiness 2008
Updated February 2009
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Past PerformanceDoes Not EnsureFuture Results
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Four Mega-Forces Will Shape Minnesota’s Economy
• Globalization• Technology• Energy prices• Demography
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Aging Is The Dominant Demographic Trend In Minnesota And The Nation
• It is not normal for a society to age• Dramatic changes will be seen in 2008 and
2011 and beyond• By 2020, the number of Minnesotans 65+
will increase by 53%. By 2030 it will double
• Aging and economic growth will lead to challenges and opportunities not fully anticipated
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Minnesota Will See a 30 Percent Jump in Workers Turning Age 62 Beginning 2008
0
10,000
20,000
30,000
40,000
50,000
60,000
7/05 to7/06
7/06 to7/07
7/07 to7/08
7/08 to7/09
7/09 to7/10
7/10 to7/11
7/11 to7/12
Year Turning Age 62
Wor
ked
With
in P
ast 5
yea
rs
2005 ACS
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From 2010 to 2020, Minnesota Will See Large Increases Age 50s and 60s
20,15036,190
47,3305,050
-30,680-9,980
47,95061,920
-2,680-63,650
-42,31054,240
102,960112,540
91,37041,400
8,44016,500
0-45-9
10-1415-1920-2425-2930-3435-3940-4445-4950-5455-5960-6465-6970-7475-7980-84
85+
Source: Minnesota State Demographic CenterNumbers are rounded
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Competition For Future College Students Will Increase
6.8%
4.5%
-1.6% -2.2%
13.0%
-1.2%
-3.5% -3.0%
-6%
-4%
-2%
0%
2%
4%
6%
8%
10%
12%
14%
2000-05 2005-10 2010-15 2015-20
Perc
ent C
hang
e 18
-24 US
Mn
Census Bureau US Proj, Mn State Demographer revised 2007. The 18 year oldpopulation, both Minnesota & nationally are projected to decline starting 2009.
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Labor Force Growth Is About To Slow Sharply
1.52%
1.12%
0.75%
0.43%
0.10% 0.13%0.27%
0.0%0.2%0.4%0.6%0.8%1.0%1.2%1.4%1.6%
1990-2000
2005-10 2010-15 2015-20 2020-25 2025-30 2030-35
Ave
Ann
ual C
hang
e
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World Labor Force Growth SlowingProjected Change In Working Age Population (15-64)
-1.5%
-1.0%
-0.5%
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
3.0%
Minnesota UnitedStates
Europe China Japan Rest ofAsia
SouthAmerica
Africa
Continent
Ann
ual %
Cha
nge
2000-102010-20
U.S. Census Bureau
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Productivity Has Been Minnesota’s Competitive Advantage
It will be even more important inThe Next Generation EconomyThe Next Generation Economy
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Productivity Remains The Key To Quality of Life In MinnesotaEconomic Growth=Labor Force Growth + Productivity GrowthProductivity growth comes fromPrivate investment—machines & processesPublic investment—roads, bridges, etcTechnology from research, public & privateSkills & abilities of workers—education &
training
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The New 3 R’s for Economic Success
• Retention• Recruitment• Retraining