Employment growth in Central Minnesota is projected to grow by 5% from 2020 to 2030 according to DEED's recently released employment projections. This is slightly below the expected rate for Minnesota (+5.7%) and also lower than projected growth in the Twin Cities (+6.2%), Northeast Minnesota (+5.5%), and Northeast and Southeast Minnesota (both at +5.1%). Only Southwest Minnesota is projected to have slower job growth over the decade (+3.9%).

Projected employment changes are a reflection of many factors but one of the more important inputs are historical trends and labor force changes. Job growth requires either a growing labor force or more workers holding multiple jobs, with the latter being less desirable and common. The exodus of workers from the labor force over the past two years have shifted projected employment growth downward as more openings go unfilled.

But fear not, employment growth, or slow or no growth does not necessarily mean there won't be terrific employment opportunities for workers in the region. Employment growth is simply the change in jobs (employment). There will be plentiful job openings to replace workers who exit the labor force in addition to new jobs being added to the economy. In fact, Central Minnesota is expected to have 15,046 openings from new job growth, and an even more impressive 136,960 openings from workers leaving the labor force. Combined we project more than 152,000 openings in the region from 2020 to 2030.

Of course, unforeseen economic events can drastically change the actual number, an economic downturn such as a recession could shift projected growth when they are updated next. Official statewide and regional projections are updated every even year with the next round of projections scheduled to be completed in 2024.

For More Information

Contact Luke Greiner at 320-308-5378.