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Strong Job Growth in the Twin Cities Area
<br /> The Twin Cities area has sustained strong job growth since the 1992-93 economic recovery. " t�
<br /> This region captured 62 percent of all expansion jobs in the state, while accounting for 53
<br /> • percent of all business establishments. The rapid job growth created pockets of labor shortages in
<br /> some metropolitan cities, higher entry-level wages, and unprecedented low unemployment rates.
<br /> During the 1994-95 period, two of every three start-up and expansion jobs in the large retail
<br /> trade and service sectors were created in the Twin Cities area, particularly for business
<br /> services (including temporary-help agencies), health services and professional services. The
<br /> I Minnesota
<br /> Twin Cities area also accounted for two-thirds of start-up and expansion jobs in Annual
<br /> manufacturing, wholesale trade, finance and insurance sectors - the domain of medium-size
<br /> and large companies. High technology industries such as scientific instruments and medical Analysis
<br /> products have expanded in the Twin Cities area and surrounding region. 3rd Quarter, 1994
<br /> On the other hand, amusement and recreation businesses, hotels, and resorts grew most rapidly in through
<br /> Greater Minnesota. Natural-resource-based manufacturing industries such as food and kindred products; 3rd Quarter, 1995
<br /> lumber and wood products; and stone, clay and glass continued to expand in Greater Minnesota.
<br /> Recreational transportation equipment manufacturing also grew rapidly in northern Minnesota.
<br /> Sources of Annual Job Growth,
<br /> (3rd Quarter, 1994 through 3rd Quarter, 1995)
<br /> Number of Business Establishments*
<br /> Births Dissolutions Expansions" Contractions*" Total
<br /> Industry No.Rate(%) No.Rate(%) No.Rate(%) No.Rate(%) Esaab!'
<br /> Agriculture 280 10.1 152 5.5 1,063 38.4 821 29.6 2,802
<br /> Mining 7 3.6 9 4.6 66 33.7 60 30.6 189
<br /> Construction 1,218 9.7 1,006 8.0 3,907 31.0 3,420 27.1 12,226
<br /> Manufacturing 551 6.4 298 3.5 3,583 41.6 2,492 28.9 8,384
<br /> Trans., Comm., Utilities 600 10.4 416 7.2 1,876 32.6 1,403 24.3 5,929
<br /> Wholesale Trade 1,371 9.6 943 6.6 4,375 30.8 3,023 21.3 14,094
<br /> Retail Trade 1,971 7.1 1,856 6.7 9,619 34.5 8,233 29.6 26,779
<br /> Finance, Ins., Real Estate 1,237 9.8 854 6.8 3,040 24.2 2,801 22.3 12,711
<br /> Services 4,765 10.5 3,306 7.3 14,011 30.9 11,003 24.2 45,010
<br /> Public Administration 41 1.6 8 0.3 412 16.4 504 20.0 2,203
<br /> TOTAL 1994.111 - 1995.11112,041 9.1 8,848 6.7 41,952 31.7 33,760 25.5 130,327
<br /> TOTAL 1993.111 - 1994.111 9,900 7.7 9,540 7.4 44,422 34.4 36,294 28.1 -
<br /> Number of Jobs*
<br /> Births Dissolutions Expansions" Contractions" Total
<br /> Industry No.Rate(%) No.Rate(%) No.Rate(%) No.Rate(%) Jobs"""
<br /> Agriculture 884 4.0 383 1.7 2,991 13.5 2,098 9.5 22,772
<br /> Mining 12 0.1 13 0.2 242 3.0 253 3.1 7,620
<br /> Construction 2,783 2.9 1,717 1.8 12,722 13.3 8,950 9.4 95,377
<br /> Manufacturing 2,591 0.6 1,937 0.5 28,201 6.8 16,734 4.0 412,513
<br /> Trans., Comm., Utilities 2,027 1.9 1,254 1.2 8,551 7.9 6,563 6.0 111,075
<br /> Wholesale Trade 2,862 2.0 1,885 1.3 14,294 9.9 8,093 5.6 144,870
<br /> Retail Trade 17,461 4.1 9,930 2.3 35,271 8.2 26,553 6.2 420,741
<br /> Finance, Ins., Real Estate 4,177 3.0 2,296 1.6 10,082 7.2 10,560 7.6 134,952
<br /> Services 16,273 2.3 10,605 1.5 59,743 8.3 41,922 5.8 698,497
<br /> Public Administration 53 0.1 5 0.0 1,741 2.3 3,277 4.4 55,698
<br /> TOTAL 1994.111 - 1995.11149,123 2.3 30,025 1.4 173,838 8.1 125,003 5.8 2,104,115
<br /> TOTAL 1993.111 - 1994.11144,541 2.2 32,228 1.6 194,041 9.6 124,945 6.2 -
<br /> * The rates in this table are based on totals front ?rd Quarter, 1994.
<br /> ** Corers till expanding and contracting businesses in the state.
<br /> *:k« Tonil establishments and total jobs, 3rd Quarter, 1995, tutadjusted frir late or missing employee reports.
<br /> Note: See notes on Page 13 of Report fier Terms, Definitions and Sources.
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