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%

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


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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


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

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


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


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


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


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


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


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


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


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


Top Growing Industries

Industry Jobs Growth

0 20 40 60







Economy Overview


Top Industry LQ

Industry LQ

0.00 1.00 2.00 3.00

Manufacturing


Retail Trade





Wholesale Trade

Government

Educa onal Services

Informa on

Construc on





Administra ve and Support and Waste Management andRemedia on Services


Economy Overview


Top Industry GRP

2020 Gross Regional Product

$0.000 $100.0M $200.0M $300.0M

Manufacturing


Retail Trade

Government


Wholesale Trade

Construc on






Informa on



Educa onal Services



Economy Overview


Top Industry Earnings

2020 Earnings Per Worker

$0 $20,000 $40,000 $60,000 $80,000

Manufacturing


Wholesale Trade


Government

Construc on







Informa on

Retail Trade

Educa onal Services




Economy Overview


Largest Industries

Industry Jobs Na onal Average

0 500 1,000 1,500 2,000 2,500

Manufacturing


Retail Trade

Government



Construc on


Wholesale Trade

Administra ve and Support and Waste Management and Remedia on Services




Educa onal Services


Informa on



Economy Overview


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 500+ employees 0.2% 2

Economy Overview


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


Top Growing Occupa ons

Occupa on Jobs Growth

0 5 10 15 20

Protec ve Service




Economy Overview


Top Occupa on LQ

Occupa on LQ

0.00 1.00 2.00

Produc on


Healthcare Support


Sales and Related





Management










Protec ve Service


Legal

Economy Overview


Top Occupa on Earnings

2020 Median Hourly Earnings

$0.00 $10.00 $20.00 $30.00

Management




Legal







Produc on


Protec ve Service




Healthcare Support


Sales and Related



Pos ngs data is not available for the currently selected region.

Underemployment data is not available for the currently selected region.

Economy Overview


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




Healthcare Support

Management













Protec ve Service


Legal

Economy Overview


Educa onal Pipeline

Over the last 5 years, no schools in 2 Minnesota ZIPs produced graduates.

Economy Overview


Documents

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%