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New Retail Trade Businesses Intensify Competition in Twin Cities
<br /> Area
<br /> The weakening economy slowed business start-ups and the creation of start-up jobs in the •
<br /> Twin Cities area, particularly for the large service industry. However, the retail trade industry
<br /> continued to add new establishments and jobs which intensified competition, as discount stores
<br /> and franchises proliferated. Start-ups and major expansions picked up in the construction
<br /> industry.
<br /> Twin Cities Printing and publishing, fabricated metals, industrial machinery and computers, and scientific
<br /> Area instrument manufactures continued strong business expansions in the Twin Cities area. In the
<br /> service industry, business services provided 38 percent of major expansion jobs while health
<br /> 2nd Quarter, 1995 services contributed 16 percent. Professional services and social services were also large
<br /> sources of expansion jobs during this quarter.
<br /> Number of Business Establishments
<br /> Births Dissolutions Expansions Contractions
<br /> Industry No. Rate(%) No. Rate(%) No. Rate(%) No. Rate(°o)
<br /> Agriculture D D 29 2.7 13 1.2 D D
<br /> Mining D D 0 0.0 0 0.0 D D
<br /> Construction 182 3.1 165 2.8 83 1.4 57 1.0
<br /> Manufacturing 79 1.6 44 0.9 62 1.3 37 0.8
<br /> Trans., Comm., Utilities 62 2.5 68 2.7 30 1.2 8 0.3
<br /> Wholesale Trade 161 2.1 190 2.5 28 0.4 15 0.2
<br /> Retail Trade 262 2.0 264 2.0 105 0.8 114 0.9
<br /> Finance, Ins., Real Estate 145 1.9 106 1.4 19 0.3 25 0.3
<br /> Services 824 3.0 755 2.7 163 0.6 110 0.4 •
<br /> Public Administration D D 0 0.0 4 0.8 0 0.0
<br /> TOTAL 2nd Qtr. 1995 1,766 2.5 1,621 2.3 507 0.7 380 0.5
<br /> TOTAL 1st Qtr. 1995 2,077 2.9 1,274 1.8 495 0.7 428 0.6
<br /> TOTAL 2nd Qtr. 1994 1,631 2.3 1,584 2.3 589 0.8 452 0.6
<br /> Number of Jobs
<br /> Births Dissolutions Expansions Contractions
<br /> Industry No. Rate(°o) No. Rate(%) No. Rate(%) No. Rate(%)
<br /> Agriculture D D 35 0.5 291 4.4 D D
<br /> Mining D D 0 0.0 0 0.0 D D
<br /> Construction 395 0.8 266 0.5 1,519 3.0 841 1.6
<br /> Manufacturing 205 0.1 142 0.1 1,957 0.8 1,465 0.6
<br /> Trans., Comm., Utilities 262 0.3 187 0.2 665 0.8 162 0.2
<br /> Wholesale Trade 266 0.3 229 0.3 683 0.8 473 0.5
<br /> Retail Trade 2,271 0.9 1,001 0.4 1,743 0.7 2,337 0.9
<br /> Finance, Ins., Real Estate 282 0.3 201 0.2 673 0.6 620 0.6
<br /> Services 1,673 0.4 1,396 0.3 3,016 0.6 1,973 0.4
<br /> Public Administration D D 0 0.0 86 0.3 0 0.0
<br /> TOTAL 2nd Qtr. 1995 5,457 0.4 3,457 0.3 10,633 0.8 8,098 0.6
<br /> TOTAL 1st Qtr. 1995 7,158 0.5 2,544 0.2 10,690 0.8 8,827 0.7
<br /> TOTAL 2nd Qtr. 1994 4,924 0.4 3,690 0.3 14,062 1.1 10,622 0.8
<br /> D = Suppressed to avoid disd(awe of individual company data.
<br /> Turin Ones Region Counties- Anoka. Carver, Dakota, Hennepin, Ransev, Scott and N'nsdingarn.
<br /> Note: Sre notes on Page 13 of Report for Terms, Dtfnitions and Sources.
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