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Articles by Luke Greiner
Retailers face unique challenges
The Retail Trade industry in Central Minnesota has long been a pivotal force in shaping the region’s economic landscape, reflecting local consumer trends and serving as a significant source of employment. Over the past few years, this sector has faced numerous challenges and opportunities, navigating shifts in consumer behavior, the rise of e-commerce, and the unique labor market dynamics of Central Minnesota.
Jobs in retail in Central Minnesota
Retail Trade is an important industry in Central Minnesota, both for holiday shopping and for employment. The 13-county planning region had more than 36,250 jobs at 2,174 establishments in the second quarter of 2023, accounting for about 13% of total jobs (or about one in every eight jobs).
Good jobs throughout Central Minnesota with no degree needed
The pursuit of higher education is not the only path to employment success. While a college degree can open doors and lead to well-paying careers, there are plenty of lucrative opportunities in Central Minnesota and across the country available for individuals without a college degree. It’s essential to understand that success in these fields often requires a combination of relevant skills, practical experience, and a proactive approach.
Central Minnesota Manufacturing
Home to 1,200 manufacturers who provide nearly 41,500 jobs, Central Minnesota is a powerhouse in the goods producing space. Manufacturing continues to grow and now accounts for over 15% of all employment in the region, plus provides average annual wages of almost $64k, that’s $10k higher than typical for the region.
Central Minnesota a manufacturing stronghold
Home to 1,200 manufacturers who provide nearly 41,500 jobs, Central Minnesota is a powerhouse in the goods-producing space. Manufacturing continues to grow and now accounts for over 15% of all employment in the region, plus provides average annual wages that are $10K higher than typical in the region.
Population growing in Central Minnesota
After gaining almost 60,000 new residents since 2010, Central Minnesota saw a faster population growth than the state as a whole. All but two of the 13 counties in Central Minnesota managed to gain population over the past 12 years, providing a net gain of 59,172 people, for an 8.7% increase, compared to 7.8% for Minnesota. A growing population is the most important way for labor force growth to occur and a leading indicator of future labor force trends.
Growth versus demand in Central Minnesota
Despite rapid and broad changes in the economy and labor market following the COVID-19 pandemic, most occupational changes have so far been minimal. Though people working in many occupations are now able to work from home and serve customers remotely, the actual function of most jobs has remained unchanged. Yet long-term changes in our economy will continue to shape the labor market for decades and interpreting job growth and job demand is imperative to understand for proper planning.
The information technology of everything
N o longer is knowledge of information technology reserved for a small subset of people staring at computer screens, it’s everywhere, including our jobs, no matter what industry we work in. The ability to connect such a wide variety of devices to the internet, local networks, and to other peripheral devices has prompted a substantial need for basic understanding of IT to be successful in the workplace.
Area has active labor force
Central Minnesota has a very active labor force, with both men and women participating at higher rates than statewide. In 2021, 72.9% of men and 66.2% of women aged 16 years and over in the region were actively participating in the labor force, which was above the state rate at 72.7% and 65.6%, respectively. A high labor force participation rate is a positive measure for many indicators, both economic and social.
The age of wage growth in central MN
Median hourly wages in Central Minnesota grew by 14.7% from 2019 to 2021, a respectable amount with even more wage growth likely in 2022. However, hourly wage data lag by roughly a year. Yet changes in the early stages of the rapid inflation increase sheds light on what types of workers were able to command higher wages and in what industries. The highest wage growth over the two-year period was earned by teenage workers, who saw median hourly wages balloon 17.9% over the two-year period.
The rise and fall of Central Minnesota’s labor force
In the months prior to the pandemic, Central Minnesota was the home to just under 410,000 workers, either employed or unemployed and actively looking for work. That was a new monthly high, as the region’s labor force had been steadily growing for more than a century, following regional population trends. However, implications of the pandemic caused a sudden shift in the labor market, and thousands of people left the labor force in the first year after “COVID-19” entered our lexicon.
Demand for health care workers surging
As the pandemic stretches on, demand for health care workers is still surging in Central Minnesota. In sum, there were 2,645 job vacancies for healthcare practitioners and technical and healthcare support workers in the second quarter of 2021. That was more than double the number of openings compared to the second quarter of 2020 at the outset of the pandemic, and 700 more than the previous peak in 2016.
Hang it up or hold on: What’s next for older workers?
Over 22% of Central Minnesota’s labor force is 55 years or older, representing a very important segment of highly skilled workers that employers rely on. Leveraging the experience of these workers is vital to employers in the region, but the recent economic shock could trigger a change in these workers’ behavior. Following the dramatic upheaval of 2020, workforce development professionals are curious what older workers will do next.
Congress Provides Relief to “Shuttered” Theaters, Venues, Museums and Others | JD Supra
Some very welcome help for theaters, music venues, museums and similar “shuttered venues” and promoters is buried in the $900 billion COVID-19 relief bill recently passed by Congress and signed by the President (the “Act”).[1] This assistance, which originally began as the “Save our Stages Act,” authorizes the Small Business Administration (the “SBA”) to make up to $15 billion in grants to help this badly struggling segment of the economy. Who is eligible?
Unemployment applications slow
Now more than four months into the COVID-19 pandemic, businesses and organizations in Central Minnesota – and across the United States – have attempted to mitigate risk in many different ways. Unfortunately, cases of COVID-19 continue to happen and have been rising in recent weeks. The good news is that weekly UI (unemployment insurance) applications for nearly all industries are a fraction of what they were in mid- to- late March, but the cumulative scale of the layoffs is unprecedented.
Paycheck Protection Program (PPP) update, with our own “Frequently Asked Questions” | JD Supra
Anyone closely considering or utilizing the PPP has undoubtedly heard about the U.S. Small Business Administration’s (SBA’s) so-called “Frequently Asked Questions” (FAQs) that the agency has been issuing and updating on a periodic – sometimes daily – basis. The agency’s most recent updates to its FAQ were on May 13, 2020, with Question/Answer #46 and #47, pertaining to a new “safe harbor” deadline to repay the PPP loan by May 18, 2020.
Main Street Lending Program Comments Due April 16 | JD Supra
Updated: May 25, 2018: JD Supra is a legal publishing service that connects experts and their content with broader audiences of professionals, journalists and associations.
COVID-19 Economic Stimulus – State of Minnesota | JD Supra
Updated: May 25, 2018: JD Supra is a legal publishing service that connects experts and their content with broader audiences of professionals, journalists and associations.
Tapping Homegrown Talent
by Luke Greiner September 2018 Many Greater Minnesota students say they would prefer to remain in their hometowns after graduation, but perceptions about employment opportunities sometimes get in the way. Perceptions matter when it comes to what rural youth think about their communities and local economic opportunities.
Tapping homegrown talent
Many Greater Minnesota students say they would prefer to remain in their hometowns after graduation, but perceptions about employment opportunities sometimes get in the way. Using survey data from the Minnesota Department of Employment and Economic Development’s participation in the Southwest Minnesota Career Expo in October 2017, we can gain valuable insight into the perceptions of the next generation of workers.
Veterans gain education while serving
Serving in the United States Armed Forces offers an experience like no other.Aside from the opportunity to work with incredibly dedicated people in locations most will never see, military service builds a unique range of skills that can help veterans find success after service.The skills our men and women in uniform gain during military service range from self-discipline and teamwork, better known as soft skills, to advanced technical skills.
Central Minnesota businesses report vacancies of all types
Central Minnesota businesses are searching for workers, which is good news for job seekers, but it is creating challenges for employers.Minnesota’s unemployment rate fell to 3.7 percent in May, matching a post-recession low point last seen in June 2015, according to the Minnesota Department of Employment and Economic Development.Employment growth slowed from a 1.8 percent increase through the first three quarters of 2015 to just 0.8 percent in 2016 — and it’s not clear why.
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