4/5/2024 9:02:14 AM
Every quarter, the Labor Market Information (LMI) Office of the Minnesota Department of Employment and Economic Development (DEED) publishes research articles that offer insights into important labor market trends.
The latest quarterly issue of Minnesota Economic Trends includes articles that explore what recent graduates of Minnesota post-secondary institutions earn, what industries hire recent graduates from various instructional programs, how Minnesota business owners are planning for future ownership transition, how Minnesota's employment by industry has changed over the past 70 years, what Minnesota's child care workforce looks like now in terms of economic well-being and professional development opportunities, how the Pandemic Recession recovery compares to that of the two previous recessions and how retirements are affecting Minnesota's labor force. Select a title below to view the full article.
When choosing a major it's hard to know what to expect. A new interactive web tool shows which industries hire graduates from 405 different majors and at what wages. It also shows which occupations a specific program might prepare students for.
Employment and wage outcomes for 2021 Minnesota postsecondary graduates are now available in the Graduate Employment Outcomes (GEO) tool. Learn more about using this tool, which was one of the first of its kind in the nation when it was launched 10 years ago. GEO allows users to disaggregate program outcomes by 252 majors, four award levels and 98 postsecondary schools, both public and private, throughout the state.
One out of five recent graduates of Minnesota postsecondary programs left the region where they earned their degrees to start their careers in other Minnesota regions. This article demonstrates that graduates are responsive to regional differences in economic opportunity for jobs requiring their credentials.
There are an estimated 50,000+ businesses with owners aged 55 years or older in Minnesota. The future of these businesses is a critical economic development topic that will affect communities across the state. Keeping these businesses open when owners or leaders move on is important, especially in rural communities.
Like any economy, Minnesota's economy is continuously changing. Tracking industrial employment trends is essential to understanding how the state's economy has evolved and for gaining some sense of where it is headed.
A summary of a series of reports, commissioned by the Minnesota Departments of Education and Human Services in partnership with the Children's Cabinet, and conducted by Wilder Research, explores the characteristics of the early care and education workforce, assesses educators' economic well-being and describes their participation in training and professional development opportunities.
Minnesota, along with the rest of the nation, has experienced three recessions since 2000, with widely varying levels of job loss and recovery. This article compares employment recoveries from the dot-com recession, Great Recession and Pandemic Recession.
Retirement is the key contributor to Minnesota's slowing labor force growth. The state's percentage of the population aged 55-plus increased more than our neighboring states and the U.S. as a whole from 2019 to 2023. That increase, coupled with higher household incomes and greater access to retirement accounts in Minnesota compared to neighboring states, is likely helping a higher share of Minnesota workers retire and suppressing Minnesota's labor force growth.
You can see an archive of past Minnesota Economic Trends articles going back to 1993 on the DEED website.
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