2010 Year in Review
Aware of a Minnesota Business Journal article that was published in July stating that Minnesota ranks 11th in a midyear review of employment trends, I was interested to find where we stand at the end of 2010, and in particular, in what areas of employment MN is standing strong. While doing my research, I found metroMSP’s list of National Rankings for MN. The list contains everything from economic vitality, to environmental leadership to healthy livestyles, and it is evident that MN is high-scoring in several areas.
Here at ESP we’re excited about the upswing in business we’ve had in 2010, and about these reports’ predictions for the future. We’re looking forward to a busy 2011!
Thanks to metroMSP for such a comprehensive list of Minnesota’s nationally rankings. Here are some interesting finds from their website:
Minneapolis/Saint Paul’s Post-recession Economy Ranks Among Strongest in Nation and World. The Brookings Institution and London School of Economics November 2010 report ranked the Twin Cities sixth among U.S. markets – and 44th globally – for the “recovery” period of 2009 and 2010, out of 150 global metropolitan areas. The report describes the Twin Cities as “on the road to full recovery.”
Minnesota Is Positioned to Compete in New Economy. Minnesota is positioned well – and better than much of the Midwest – to compete in the new economy, according to the “2010 State New Economy Index.” The study, conducted by the Ewing Marion Kaufman Foundation and The Information Technology and Innovation Foundation, ranked Minnesota 13th nationally. At ESP, we’re specifically excited about Minnesota’s ranking in the following categories: Fourth in Health IT, sixth for IT Professionals (in non-IT industries), eighth for Managerial, Professional, Technical jobs, and thirteenth in High-Tech Jobs.
Minnesota Is Fourth in Nation for Job Market Growth. Minnesota added more jobs in the last 12 months than all but three states, according to U.S. Bureau of Labor data released in August 2010. The state added 23,200 new non-farm jobs from July 2009 through July 2010. Of the 13 states with the fastest-growing job markets, Minnesota has the lowest unemployment rate of 6.8%.
Minnesota’s Jobs Improvement Best in Nation. Minnesota’s unemployment picture improved more than any other state between May 2009 and May 2010, according to the Federal Bureau of Labor Statistics. The June 2010 report showed an unemployment rate drop from 8.4% to 7% in the one-year span, making Minnesota one of three states – along with Vermont and Oregon – to see a drop of 1 percentage point or more. Minnesota’s jobless rate is the 11th lowest in the country.
Minnesota Ranks Second Nationally in Med-Tech Jobs. Minnesota boasts the second-highest number of medical technology jobs in the country, according to the Washington, D.C.-based Advanced Medical Technology Association. With about 27,000 people employed in the industry in 2007, Minnesota has a “disproportionately high” number of med-tech workers – more than three times the national average. The jobs make up more than 1% of the state’s total employment, the highest proportion of any state in the nation.
Transit & Commute
Twin Cities Earns Top Federal Grant for Sustainable Transit Development. Minneapolis/Saint Paul tied with Salt Lake City as 2010 recipients of the top federal grant for sustainable transit development.
Twin Cities Among Fastest Commuting Markets in Nation. Metro Twin Cities commuters spend just over 24 minutes getting to work – making the market one of the fastest among large U.S. cities. Minneapolis/Saint Paul ranks 16th nationally among the nation’s 52 markets with populations above 1 million. It is the only top-20 metro on the list with a population of more than 3 million, making the ranking more impressive. Its average commuting times are within four minutes of the fastest market (Rochester, NY). The rankings are based on a new analysis of U.S. Census Bureau figures, published by Buffalo Business First.
Minneapolis Named No. 1 Bike-Friendly City in America by Bicycling Magazine. The annual list recognizes cities with populations of 100,000 or more that have shown “real innovation, as well as local government support, and a vibrant bike culture.” Minneapolis moved into the number one slot after being named runner-up for most improved city in 2008. The magazine cites an “active biking culture and enthusiasm for the sport” as the main reasons for the top ranking. Minneapolis doubled its percentage of bike commuters in just three years.
The Daily Beast Names Minneapolis/Saint Paul Among America’s Top Brainpower Cities. For the second year in a row, The Daily Beast compared the brainpower of America’s 55 largest cities. The Minneapolis/Saint Paul region ranked eighth – a sign that it is more likely to bounce back from the recent recession than regions with less intellectual vigor.
Visit MetroMSP’s website for more report summaries.