UMVRDC Annual Meeting Economic Changes and Challenges Luke Greiner Regional Labor Market Analyst Luke.greiner@state.mn.us Department of Employment and Economic Development Labor Market Information Office http://mn.gov/deed/data/

Labor Market Information Office Each state produces employment and economic statistics in cooperation with U.S. Department of Labor’s Bureau of Labor Statistics LMI includes employment statistics, unemployment rates, wages and salaries, job projections and more LMI is the foundation for informed, market-responsive planning

Population Trends in the Region

Upper Minnesota Valley Population Recent Population decline is twofold (2010-2017) Emigration (-2,335) More deaths than births (-187 net vital events) Labor force projections show continued difficulties From 2020-2030 a loss of 2,100 workers is projected (-10%). Can we handle this? Is this uncharted waters for the UMRV? The projected losses are far less than what the region experienced through much of the 20th century where declines of 9,000 residents happened between multiple census years.

Economic Conditions in 3 Charts

Who’s hiring? Everyone! But in relative terms, it’s mainly HC and manufacturing. Much larger share of Mfg openings compared to Minnesota Higher wage offers in HC compared to statewide Transportation/warehouse, food prep/serving, and production are top 3 openings

More on Openings, 2017 4th Qtr. 42 percent were PT (41% MN) The median wage offer for FT openings was $15/hour ($17.02 MN) Only 56% of FT openings offer HC insurance compared to 86% statewide. Only 15% of FT jobs require a bachelor’s degree or more (23% MN)

Sowhatchyathink? What % of graduating seniors from the Upper Minnesota Valley enroll in college in the fall following graduation? 71%, 1 point higher than statewide in 2016 21% enter the workforce without enrolling

Source: https://mn.gov/deed/newscenter/publications/trends/june-2017/tight-labor-market.jsp

Survey of 10th grade students in SW Minnesota, fall of 2017

Partnering, it’s what we do in SW https://www.lyftpathways.org/Page/1

THANK YOU! http://mn.gov/deed/trends http://mn.gov/deed/review Local Look Regional Blog Monthly blog covering regional economic trends Workforce insights. Occupations In Demand, Unemployment Rates Minnesota Economic TRENDS Quarterly magazine on economic topics Subscriptions available free of charge or on-line Minnesota Employment REVIEW Monthly magazine on economic data and regional trends Includes Minnesota business development Available exclusively on-line https://mn.gov/deed/data/locallook/central/central-blog.jsp https://mn.gov/deed/data/locallook/southwest/southwest-blog.jsp http://mn.gov/deed/trends http://mn.gov/deed/review

Let me know how I can help! Luke Greiner Regional Labor Market Analyst Central and Southwest Minnesota Labor Market Information Office Phone: (320) 308-5378 Luke.greiner@state.mn.us