Employment Report for Minneapolis, Minnesota -- Annual 2005 Industry Summary
In Minneapolis, Finance and insurance, Wholesale trade and Arts, entertainment, and recreation have the highest US LQ in 2005. The Finance and insurance industry has an LQ of 1.37. The percent of employment in the Finance and insurance sector is 1.37 times greater than the US average, showing signs that Minneapolis may specialize, or be an exporter of Finance and insurance.
An industry with high wages in Minneapolis is the finance and insurance sector with an annual pay of $73,290. Locally, since the year 2001, the annual average pay of the industry has grown by 11.7 percent or $7,661. The State of Minnesota has the same job market in the finance and insurance industry, ranking at the top of industries in term of the average annual pay of 2004.
Accommodation and food services saw the biggest increase in jobs since the year 2001 in Minneapolis, changing a total of 8 percent. This is greater than the industry employment change in the United States of 7.6 percent. The State of Minnesota encountered a change in industry employment of 6.8 percent, since the year 2001.
The Minneapolis-St Paul-Bloomington Metropolitan Area is ranked at 13 of 363 throughout the US according to the relatively size of the employment base in the year 2005. This ranking has slipped behind from the year 2001, at which time the Metropolitan Area was ranked 12 of 363 Counties.
In Minneapolis, Manufacturing, Health care and social assistance, and the Retail Trade sectors, in terms of total employment, are the largest. Manufacturing provides the most jobs and contributes 13.7 percent of the total MSA employment. This totals 204,994 people employed. The Health care and social assistance and Retail Trade industries total 12.7 and 12.5 percent of the total jobs, respectively.
Utilities has the largest businesses in Minneapolis Metro Area. The industry averages 63 workers per each place of employment, being greater than the industry's national average of 34 and greater than the Minnesota establishments size average of 36 for the Utilities industry.
Manufacturing since the year 2001 was faced with the largest loss in employment in the Minneapolis MSA. The sector faced a loss of 20,870 jobs during the period, or 9.2 percent of jobs in the industry. The losses in this industry made up 62.5 percent of the total jobs loss in the Metro Area.
Datasource: U.S. Department of Labor. Bureau of Labor Statistics. Quarterly Census of Employment and Wages (QCEW).
An industry with high wages in Minneapolis is the finance and insurance sector with an annual pay of $73,290. Locally, since the year 2001, the annual average pay of the industry has grown by 11.7 percent or $7,661. The State of Minnesota has the same job market in the finance and insurance industry, ranking at the top of industries in term of the average annual pay of 2004.
Accommodation and food services saw the biggest increase in jobs since the year 2001 in Minneapolis, changing a total of 8 percent. This is greater than the industry employment change in the United States of 7.6 percent. The State of Minnesota encountered a change in industry employment of 6.8 percent, since the year 2001.
The Minneapolis-St Paul-Bloomington Metropolitan Area is ranked at 13 of 363 throughout the US according to the relatively size of the employment base in the year 2005. This ranking has slipped behind from the year 2001, at which time the Metropolitan Area was ranked 12 of 363 Counties.
In Minneapolis, Manufacturing, Health care and social assistance, and the Retail Trade sectors, in terms of total employment, are the largest. Manufacturing provides the most jobs and contributes 13.7 percent of the total MSA employment. This totals 204,994 people employed. The Health care and social assistance and Retail Trade industries total 12.7 and 12.5 percent of the total jobs, respectively.
Utilities has the largest businesses in Minneapolis Metro Area. The industry averages 63 workers per each place of employment, being greater than the industry's national average of 34 and greater than the Minnesota establishments size average of 36 for the Utilities industry.
Manufacturing since the year 2001 was faced with the largest loss in employment in the Minneapolis MSA. The sector faced a loss of 20,870 jobs during the period, or 9.2 percent of jobs in the industry. The losses in this industry made up 62.5 percent of the total jobs loss in the Metro Area.
Datasource: U.S. Department of Labor. Bureau of Labor Statistics. Quarterly Census of Employment and Wages (QCEW).
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