2 minnesota zips · 2020. 6. 19. · from 2014 to 2019, jobs declined by 8.4% in 2 minnesota zips...
TRANSCRIPT
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Economy Overview
2 Minnesota ZIPs
Minnesota Department of Employment & Economic Development (DEED)
332 Minnesota Street
Suite E200
Saint Paul, Minnesota 55101
Emsi Q2 2021 Data Set | www.economicmodeling.com
Economy Overview
Emsi Q2 2021 Data Set | www.economicmodeling.com
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Contents
Report Parameters
Economy Overview
Historic & Projected Trends
Popula on Characteris cs
Inbound and Outbound Migra on
Industry Characteris cs
Business Characteris cs
Workforce Characteris cs
Educa onal Pipeline
Economy Overview
Emsi Q2 2021 Data Set | www.economicmodeling.com
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2 ZIPs
Class of Worker
QCEW Employees, Non-QCEW Employees, and Self-Employed
The informa on in this report pertains to the chosen geographical areas.
Report Parameters
55350 Hutchinson, MN (in McLeod county) 55381 Silver Lake, MN (in McLeod county)
Economy Overview
Emsi Q2 2021 Data Set | www.economicmodeling.com 1
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Economy Overview
Takeaways
As of 2020 the region's popula on increased by 1.8% since 2015, growing by 337. Popula on is expected to increase by 1.7%
between 2020 and 2025, adding 339.
From 2015 to 2020, jobs declined by 14.4% in 2 Minnesota ZIPs from 12,730 to 10,899. This change fell short of the na onal
growth rate of 1.3% by 15.7%. Labor force data is not available for 2 Minnesota ZIPs.
There is no educa on a ainment data for 2 Minnesota ZIPs.
The top three industries in 2020 are Converted Paper Product Manufacturing, Restaurants and Other Ea ng Places, and
General Medical and Surgical Hospitals.
19,382 10,899 $54.2KPopula on (2020) Total Regional Employment Avg. Earnings Per Job (2020)
Popula on grew by 337 over thelast 5 years and is projected togrow by 339 over the next 5
years.
Jobs decreased by 1,832 over thelast 5 years and are projected todecrease by 319 over the next 5
years.
Regional average earnings per jobare $17.9K below the na onalaverage earnings of $72.0K per
job.
Region 19,382 N/A 10,899 101.6 $953.17M $1.71B $1.53B
Na on 330,591,441 159,724,262 160,385,413 100.0 $20.70T $0 $9.99T
Popula on(2020)
LaborForce
(2020) Jobs (2020)
Costof
Living GRP Imports Exports
Economy Overview
Emsi Q2 2021 Data Set | www.economicmodeling.com 2
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2020 Labor Force Breakdown
Educa onal A ainment
Popula on breakdown data is not available at the ZIP level. Please choose a different region to see this data.
Educa onal a ainment data is not available at the ZIP level. Please choose a different region to see this data.
Economy Overview
Emsi Q2 2021 Data Set | www.economicmodeling.com 3
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Historic & Projected Trends
Popula on Trends
As of 2020 the region's popula on increased by 1.8% since 2015, growing by 337. Popula on is expected to increase by 1.7%
between 2020 and 2025, adding 339.
2015 19,045
2016 18,908
2017 19,090
2018 19,208
2019 19,289
2020 19,382
2021 19,461
2022 19,540
2023 19,612
2024 19,673
2025 19,721
Timeframe Popula on
Economy Overview
Emsi Q2 2021 Data Set | www.economicmodeling.com 4
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Job Trends
From 2015 to 2020, jobs declined by 14.4% in 2 Minnesota ZIPs from 12,730 to 10,899. This change fell short of the na onal
growth rate of 1.3% by 15.7%.
2015 12,730
2016 12,076
2017 11,976
2018 11,900
2019 11,447
2020 10,899
2021 10,808
2022 10,733
2023 10,669
2024 10,611
2025 10,579
Timeframe Jobs
Economy Overview
Emsi Q2 2021 Data Set | www.economicmodeling.com 5
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Your area has 3,565 millennials
(ages 25-39). The na onal average
for an area this size is 3,977.
Re rement risk is high in your area.
The na onal average for an area
this size is 5,671 people 55 or
older, while there are 6,618 here.
Racial diversity is low in your area.
The na onal average for an area
this size is 7,694 racially diverse
people, while there are 1,385
here.
Veterans data is not available at
the ZIP level. Please choose a
different region level to see this
data.
Crime data is not available at the
ZIP level. Please choose a different
region level to see this data.
Crime data is not available at the
ZIP level. Please choose a different
region level to see this data.
Popula on Characteris cs
3,565
Millennials
6,618
Re ring Soon
1,385
Racial Diversity
N/A
Veterans
N/A
Violent Crime
N/A
Property Crime
Economy Overview
Emsi Q2 2021 Data Set | www.economicmodeling.com 6
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Where Talent Works Where Talent Lives
Place of Work vs Place of Residence
Understanding where talent in the region currently works compared to where talent lives can help you op mize site decisions.
55350 Hutchinson, MN (in McLeod county)… 10,648
55381 Silver Lake, MN (in McLeod county)… 250
ZIP Name2020
Employment
55350 Hutchinson, MN (in McLeod county)… 9,668
55381 Silver Lake, MN (in McLeod county)… 876
ZIP Name2020
Workers
Economy Overview
Emsi Q2 2021 Data Set | www.economicmodeling.com 7
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Inbound and Outbound Migra on
The table below analyzes past and current residents of 2 Minnesota ZIPs. The le column shows residents of other coun es
migra ng to 2 Minnesota ZIPs. The right column shows residents migra ng from 2 Minnesota ZIPs to other coun es.
As of 2019, 226 people have migrated from Carver County, MN to 2 Minnesota ZIPs. In the same year, 173 people le 2
Minnesota ZIPs migra ng to Carver County, MN. The total Net Migra on for 2 Minnesota ZIPs in 2018 was -8.
Carver County, MNCarver County, MN
Hennepin County, MNHennepin County, MN
Wright County, MNWright County, MN
Meeker County, MNMeeker County, MN
Sibley County, MNSibley County, MN
Renville County, MNRenville County, MN
Stearns County, MNStearns County, MN
Dakota County, MNDakota County, MN
Washington County, MNWashington County, MN
Divide County, NDDivide County, ND
Carver County, MNCarver County, MN
Hennepin County, MNHennepin County, MN
Wright County, MNWright County, MN
Meeker County, MNMeeker County, MN
Sibley County, MNSibley County, MN
Renville County, MNRenville County, MN
Stearns County, MNStearns County, MN
Sco County, MNSco County, MN
Collier County, FLCollier County, FL
Williamson County, TXWilliamson County, TX
Previous County 2 Minnesota ZIPs Following County
Carver County, MN 226
Hennepin County, MN 181
Wright County, MN 111
Meeker County, MN 104
Sibley County, MN 97
Renville County, MN 46
Top Previous Coun es Migra ons
Economy Overview
Emsi Q2 2021 Data Set | www.economicmodeling.com 8
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Stearns County, MN 31
Dakota County, MN 30
Washington County, MN 21
Divide County, ND 17
Anoka County, MN 17
Ramsey County, MN 15
Chippewa County, MN 14
Blue Earth County, MN 13
Hidalgo County, TX 12
Top Previous Coun es Migra ons
Carver County, MN 173
Hennepin County, MN 145
Wright County, MN 122
Meeker County, MN 117
Sibley County, MN 71
Renville County, MN 42
Stearns County, MN 36
Sco County, MN 36
Collier County, FL 34
Williamson County, TX 33
Dakota County, MN 30
Blue Earth County, MN 29
Ramsey County, MN 28
St. Louis County, MN 24
Marathon County, WI 22
Top Following Coun es Migra ons
Economy Overview
Emsi Q2 2021 Data Set | www.economicmodeling.com 9
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Industry Characteris cs
Largest Industries
Industry Jobs Na onal Average
0 500 1,000 1,500 2,000 2,500
Manufacturing
Health Care and Social Assistance
Retail Trade
Government
Accommoda on and Food Services
Other Services (except Public Administra on)
Construc on
Agriculture, Forestry, Fishing and Hun ng
Wholesale Trade
Administra ve and Support and Waste Management and Remedia on Services
Finance and Insurance
Professional, Scien fic, and Technical Services
Transporta on and Warehousing
Educa onal Services
Arts, Entertainment, and Recrea on
Informa on
Real Estate and Rental and Leasing
Management of Companies and Enterprises
Economy Overview
Emsi Q2 2021 Data Set | www.economicmodeling.com 10
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Top Growing Industries
Industry Jobs Growth
0 20 40 60
Other Services (except Public Administra on)
Management of Companies and Enterprises
Finance and Insurance
Transporta on and Warehousing
Arts, Entertainment, and Recrea on
Agriculture, Forestry, Fishing and Hun ng
Economy Overview
Emsi Q2 2021 Data Set | www.economicmodeling.com 11
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Top Industry LQ
Industry LQ
0.00 1.00 2.00 3.00
Manufacturing
Agriculture, Forestry, Fishing and Hun ng
Retail Trade
Health Care and Social Assistance
Other Services (except Public Administra on)
Accommoda on and Food Services
Arts, Entertainment, and Recrea on
Wholesale Trade
Government
Educa onal Services
Informa on
Construc on
Management of Companies and Enterprises
Finance and Insurance
Real Estate and Rental and Leasing
Transporta on and Warehousing
Administra ve and Support and Waste Management andRemedia on Services
Professional, Scien fic, and Technical Services
Economy Overview
Emsi Q2 2021 Data Set | www.economicmodeling.com 12
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Top Industry GRP
2020 Gross Regional Product
$0.000 $100.0M $200.0M $300.0M
Manufacturing
Health Care and Social Assistance
Retail Trade
Government
Finance and Insurance
Wholesale Trade
Construc on
Accommoda on and Food Services
Other Services (except Public Administra on)
Professional, Scien fic, and Technical Services
Transporta on and Warehousing
Administra ve and Support and Waste Management andRemedia on Services
Informa on
Real Estate and Rental and Leasing
Management of Companies and Enterprises
Educa onal Services
Arts, Entertainment, and Recrea on
Agriculture, Forestry, Fishing and Hun ng
Economy Overview
Emsi Q2 2021 Data Set | www.economicmodeling.com 13
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Top Industry Earnings
2020 Earnings Per Worker
$0 $20,000 $40,000 $60,000 $80,000
Manufacturing
Finance and Insurance
Wholesale Trade
Management of Companies and Enterprises
Government
Construc on
Professional, Scien fic, and Technical Services
Transporta on and Warehousing
Health Care and Social Assistance
Real Estate and Rental and Leasing
Agriculture, Forestry, Fishing and Hun ng
Administra ve and Support and Waste Management andRemedia on Services
Informa on
Retail Trade
Educa onal Services
Other Services (except Public Administra on)
Arts, Entertainment, and Recrea on
Accommoda on and Food Services
Economy Overview
Emsi Q2 2021 Data Set | www.economicmodeling.com 14
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Largest Industries
Industry Jobs Na onal Average
0 500 1,000 1,500 2,000 2,500
Manufacturing
Health Care and Social Assistance
Retail Trade
Government
Accommoda on and Food Services
Other Services (except Public Administra on)
Construc on
Agriculture, Forestry, Fishing and Hun ng
Wholesale Trade
Administra ve and Support and Waste Management and Remedia on Services
Finance and Insurance
Professional, Scien fic, and Technical Services
Transporta on and Warehousing
Educa onal Services
Arts, Entertainment, and Recrea on
Informa on
Real Estate and Rental and Leasing
Management of Companies and Enterprises
Economy Overview
Emsi Q2 2021 Data Set | www.economicmodeling.com 15
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Business Characteris cs
Business Size
*Business Data by DatabaseUSA.com is third-party data provided by Emsi to its customers as a convenience, and Emsi does not endorse or warrant its
accuracy or consistency with other published Emsi data. In most cases, the Business Count will not match total companies with profiles on the summary
tab.
Percentage Business Count
A 1 to 4 employees 35.9% 461
A 5 to 9 employees 27.6% 355
A 10 to 19 employees 22.2% 285
A 20 to 49 employees 11.2% 144
A 50 to 99 employees 1.9% 24
A 100 to 249 employees 1.0% 13
A 250 to 499 employees 0.1% 1
A 500+ employees 0.2% 2
Economy Overview
Emsi Q2 2021 Data Set | www.economicmodeling.com 16
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Workforce Characteris cs
Largest Occupa ons
Occupa on Jobs Na onal Average
0 200 400 600 800 1,000 1,200 1,400
Produc on
Sales and Related
Office and Administra ve Support
Food Prepara on and Serving Related
Transporta on and Material Moving
Healthcare Support
Management
Educa onal Instruc on and Library
Healthcare Prac oners and Technical
Installa on, Maintenance, and Repair
Construc on and Extrac on
Personal Care and Service
Business and Financial Opera ons
Building and Grounds Cleaning and Maintenance
Architecture and Engineering
Community and Social Service
Farming, Fishing, and Forestry
Arts, Design, Entertainment, Sports, and Media
Computer and Mathema cal
Protec ve Service
Life, Physical, and Social Science
Legal
Economy Overview
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Top Growing Occupa ons
Occupa on Jobs Growth
0 5 10 15 20
Protec ve Service
Life, Physical, and Social Science
Farming, Fishing, and Forestry
Community and Social Service
Economy Overview
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Top Occupa on LQ
Occupa on LQ
0.00 1.00 2.00
Produc on
Farming, Fishing, and Forestry
Healthcare Support
Architecture and Engineering
Sales and Related
Food Prepara on and Serving Related
Personal Care and Service
Installa on, Maintenance, and Repair
Transporta on and Material Moving
Management
Educa onal Instruc on and Library
Healthcare Prac oners and Technical
Building and Grounds Cleaning and Maintenance
Community and Social Service
Arts, Design, Entertainment, Sports, and Media
Office and Administra ve Support
Construc on and Extrac on
Life, Physical, and Social Science
Business and Financial Opera ons
Protec ve Service
Computer and Mathema cal
Legal
Economy Overview
Emsi Q2 2021 Data Set | www.economicmodeling.com 19
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Top Occupa on Earnings
2020 Median Hourly Earnings
$0.00 $10.00 $20.00 $30.00
Management
Architecture and Engineering
Computer and Mathema cal
Healthcare Prac oners and Technical
Legal
Business and Financial Opera ons
Life, Physical, and Social Science
Construc on and Extrac on
Installa on, Maintenance, and Repair
Community and Social Service
Educa onal Instruc on and Library
Produc on
Office and Administra ve Support
Protec ve Service
Arts, Design, Entertainment, Sports, and Media
Transporta on and Material Moving
Farming, Fishing, and Forestry
Healthcare Support
Building and Grounds Cleaning and Maintenance
Sales and Related
Personal Care and Service
Food Prepara on and Serving Related
Pos ngs data is not available for the currently selected region.
Underemployment data is not available for the currently selected region.
Economy Overview
Emsi Q2 2021 Data Set | www.economicmodeling.com 20
![Page 23: 2 Minnesota ZIPs · 2020. 6. 19. · From 2014 to 2019, jobs declined by 8.4% in 2 Minnesota ZIPs from 12,325 to 11,287. This change fell short of the na onal growth rate of 7.6%](https://reader035.vdocuments.us/reader035/viewer/2022071406/60fbd3f7cb82d10d72674c9b/html5/thumbnails/23.jpg)
Largest Occupa ons
Occupa on Jobs Na onal Average
0 200 400 600 800 1,000 1,200 1,400
Produc on
Sales and Related
Office and Administra ve Support
Food Prepara on and Serving Related
Transporta on and Material Moving
Healthcare Support
Management
Educa onal Instruc on and Library
Healthcare Prac oners and Technical
Installa on, Maintenance, and Repair
Construc on and Extrac on
Personal Care and Service
Business and Financial Opera ons
Building and Grounds Cleaning and Maintenance
Architecture and Engineering
Community and Social Service
Farming, Fishing, and Forestry
Arts, Design, Entertainment, Sports, and Media
Computer and Mathema cal
Protec ve Service
Life, Physical, and Social Science
Legal
Economy Overview
Emsi Q2 2021 Data Set | www.economicmodeling.com 21
![Page 24: 2 Minnesota ZIPs · 2020. 6. 19. · From 2014 to 2019, jobs declined by 8.4% in 2 Minnesota ZIPs from 12,325 to 11,287. This change fell short of the na onal growth rate of 7.6%](https://reader035.vdocuments.us/reader035/viewer/2022071406/60fbd3f7cb82d10d72674c9b/html5/thumbnails/24.jpg)
Educa onal Pipeline
Over the last 5 years, no schools in 2 Minnesota ZIPs produced graduates.
Economy Overview
Emsi Q2 2021 Data Set | www.economicmodeling.com 22