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According to the article "Generations in Minnesota" from Minnesota Economic Trends, the state of Minnesota has a population of over 5.7 million people, with six generations living together. Millennials have surpassed Baby Boomers as the largest generation, followed closely by Generation Z and Generation X. The youngest generation, Generation Alpha, already has a significant population. In terms of the labor force, Millennials make up the largest cohort, followed by Generation X. The number of Baby Boomers in the workforce has decreased as many have reached retirement age, but there are still some from the Silent Generation working. The article also discusses the growth of the labor force in Minnesota over the years and the impact of the pandemic recession. Looking ahead, the state is projected to gain new residents, and the age structure of the labor force is expected to shift, leading to a continuing tight labor market. The article also highlights the impact of two groups of "seniors" - 12th graders and senior citizens - on the state's economy and labor force. Overall, the article provides insights into the generational composition of Minnesota's population and labor force, as well as projections for the future. [Extracted from the article]

According to the Minnesota Economic Trends, the state is projected to gain 56,225 jobs over the next two years, with a growth rate of 1.8%. This growth is slower than pre-pandemic levels, indicating a gradual recovery. The construction, health care & social assistance, and transportation & warehousing sectors are expected to see the most employment growth, while sectors like information, finance & insurance, mining, and agriculture, forestry, fishing & hunting are projected to decline. In terms of occupations, healthcare support, healthcare practitioners & technical, and construction & extraction are among the top three groups with the most projected job additions. The report emphasizes the importance of education in job growth, with occupations requiring graduate degrees and vocational training expected to grow the fastest. However, it is important to consider that unforeseen events, like the COVID-19 pandemic, can impact employment projections. [Extracted from the article]

The article "Back on Track in Southwest Minnesota" provides an overview of the economic recovery in the 23-county region of Southwest Minnesota. The region experienced an increase in the labor force and the creation of new jobs in 2023, resulting in an unemployment rate of 2.9%, the second lowest since 1990. The largest employing industry in the region is manufacturing, followed by health care & social assistance and retail trade. The article also highlights the industries that have fully recovered from the pandemic recession and those that are still struggling. The labor force in Southwest Minnesota has become more diverse, with a significant increase in BIPOC workers over the past decade. There has been a quadrupling of workers identifying as Two or More Races and a 125% increase in workers of Some Other Race. Hispanic or Latino workers now make up 7.0% of the region's total workforce, higher than the statewide average. However, there has been a decline in overall labor force participation rates, particularly among the aging white population. The region is expected to see further declines in the labor force in the next decade, but there is potential for growth among younger workers, particularly from Generation Z. [Extracted from the article]

Surveyed employers are asked about the number of wage and salary workers in detailed occupations and about the wage distribution for those workers, providing wage and employment estimates for around 800 occupations in the state. All are in high demand and most pay wages well above the guideline for a basic needs cost of living (see Table 1). Another measure of wage quality is the median hourly wage for all occupations from OEWS, which reached $24.25 in the first quarter of 2023. However, it varied from a low of $47,448 in Southwest Minnesota, which would require an hourly wage of $15.21, to a high of $67,716 in the Twin Cities metro area, which would require an hourly wage of $21.70. [Extracted from the article]

Southwest Minnesota's economy stands at a critical juncture as it navigates an aging population, declining labor force, and changing industry trends. The Pandemic Recession accelerated Southwest's labor force decline, cutting more than 7,500 workers from 2020 to 2021, with the region still down about 6,500 workers in 2022 despite a small reversal. Among the six planning regions in the state, Southwest Minnesota has seen the largest labor force exodus from 2020 to 2022, back to just 97.1% of pre-pandemic levels, with Northwest closest to its 2020 labor force level at 99.6%. [Extracted from the article]

Minnesota still ranked 13th in 2019 with 6.4% of workers working from home, an increase of nearly 50,000 workers. The IPUMS data from 2021 details 325 occupations where 75% or more of workers must commute to work onsite, representing nearly 2.5 million workers in Minnesota. Minnesotans were slightly more likely to work at home - about one in every 19 workers reported working from home in 2011, amounting to about 140,000 workers. [Extracted from the article]

Hispanic or Latino household income in Minnesota is slightly above the U.S. median of $60,566 for Hispanic or Latino households, Minnesota had the 12th highest level, again ahead of surrounding states South Dakota ($57,045; 26th), Wisconsin ($53,186; 38th), Iowa ($52,082; 41st), and North Dakota ($51,546; 43rd). Still, Minnesota's Hispanic or Latino poverty rate was lower than the nation's Hispanic or Latino poverty rate (see Table 9). At that same time nationally, the Hispanic or Latino unemployment rate was 12.5% and the white rate was 8.9%, showing Minnesota had a lower rate but a bigger gap for Hispanic or Latino workers in 2011. [Extracted from the article]

Minnesota's economy is projected to continue to grow over the next year, with our short-term jobs forecast surpassing pre-pandemic February 2020 employment levels by the second quarter of 2023. GRAPH: Minnesota's Job Recovery Continues: An updated analysis of projected job growth GRAPH: Minnesota's Job Recovery Continues: An updated analysis of projected job growth GRAPH: Minnesota's Job Recovery Continues: An updated analysis of projected job growth PHOTO (COLOR) According to newly released 1-year employment projections, Minnesota is expected to have about 2,980,000 jobs by second quarter 2023 - a recovery of just over 345,000 jobs since the start of the pandemic. [Extracted from the article]

Employment Trends The largest job losses in the region were seen at HealthCare & Social Assistance establishments, which shed-2,204 jobs from 2019 to 2021 for a 7% loss inemployment. Similar to other area across the state and country,Health Care & Social Assistance suffered substantiallosses in 2020, however the employment in Southwest hasnot rebounded to the same extent as statewide, with 7%fewer jobs in 2021 compared to just 1.4% fewer jobs inMinnesota. Fourth Quarter Job Vacancies in Southwest Minnesota Long-Term Recovery Even accounting for the record levels of current demand,Southwest is also projected to see job growth of nearly7,700 new jobs over the next decade. [Extracted from the article]

Jumping Job Vacancies Like the state overall, employers in Northwest Minnesotareported the highest number of job vacancies on record inthe fourth quarter of 2021, with nearly 19,000 openpositions in the region. Another industry that benefited from a return toin-person activities is Educational Services, whichregained about 250 jobs in 2021 after losing more than1,600 jobs in the immediate aftermath of COVID-19 in2020. With just under 29,000 jobs at more than 800 firms,Manufacturing accounted for 13.2% of total employment inthe region, compared to 11.3% of jobs statewide. [Extracted from the article]