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June 2015 Newsletter is Now Available
The EDA Center newsletter for June 2015 is now available. Click here for the pdf or here to go to the newsletter archive.
Minnesota Unemployment up Slightly to 3.8% for May
Minnesota unemployment went up slightly to 3.8 percent for May. Minnesota employers lost 200 jobs in May. Five sectors posted job gains: Trade/Transportation/Utilities (6,600), Financial Activities (900), Government (300), Construction (200), and Information (200). Professional/Business Services (-4,400), Leisure/Hospitality(-1,600), Educational/Health Services (-900), Mining/Logging (-300), Other Services (-200), and Manufacturing (-100) posted job losses in May. Minnesota added 38,383 jobs over the past year, which puts Minnesota's growth at 1.4 percent during that time. This is below the U.S. growth of 2.2 percent over the past year. Minnesota's labor participation rate is up to 70.8 percent (seasonally adjusted). Click here for more May jobs information.
U.S. Unemployment Rate up to 5.5% in May
According to the Bureau of Labor Statistics the U.S. seasonally adjusted unemployment rate moved up to 5.5 percent for May. There were 280,000 jobs added. Job gains were experienced by the following sectors in May: Education/Health Services (74,000), Professional/Business Services (63,000), Leisure /Hospitality (57,000), Retail Trade (31,400), Government (18,000), Construction (17,000), Transportation/Warehousing (13,100), Financial Activities (13,000), Manufacturing (7,000), Wholesale Trade (4,100), Other Services (2,000), and Utilities (1,100). Mining/Logging (-18,000) and Information (-3,000) sectors experienced job losses in May. The revised numbers show 32,000 more jobs were created in March (+34,000) and April (-2,000) than originally reported. For the entire BLS May report click here.
NEW EDA CENTER REPORT: Economic Emergency Program Impact of Poultry and Egg Production Losses and Poultry Processing Losses Due to the Avian Influenza-by Brigid Tuck
In late winter 2015, avian influenza was discovered in a flock of commercial turkeys in Minnesota. After the first flock was infected, the virus spread rapidly. As of May 11, 2015, the disease has been confirmed at 85 turkey and chicken farms in 21 Minnesota counties, resulting in the direct loss of nearly 5.7 million birds in the state. Approximately 9 percent of all turkeys and 14 percent of all laying chickens have been affected by the outbreak. In 2014, the value of turkey production in Minnesota was $866.2 million. The value of egg production was $265.9 million. Applying those figures to 2015, as of May 11, an estimated $113.6 million of poultry production has been lost in Minnesota. This does not include the value of future lost production (due to the further spread of the disease or lost production due to barn disinfection and cleaning). To quantify these ripple effects, University of Minnesota Extension conducted an Emergency Economic Impact Analysis (EIA). This Emergency EIA quantifies the ripple effects of the loss of $1 million in poultry and egg production showing that $1 million in direct losses will likely result in a decline of $1.8 million in economic output in Greater Minnesota, including $450,000 in lost farm and household income. It also quantifies the ripple effects of the loss of 100 poultry processing jobs, showing that 100 lost jobs at poultry processing plants will lead to a loss of 210 jobs across Greater Minnesota’s economy, including $9.3 million in lost household income. For a copy of this report, please click here.
NEW EDA CENTER REPORT: Exploring Travel Interests and Constraints among Minnesota Hmong-by Michele Schermann, Ingrid Schneider, Chou Moua & Tou Thai Lee
As Minnesotans comprise about half of Minnesota’s travel market (Davidson Peterson, 2012), understanding this in-state population is important to attract and retain consumers and, subsequently, support communities and economies. As of 2015, tourist data primarily focuses on white, non-Hispanics. Other markets exist, however, and are growing in Minnesota and elsewhere. A rather unique Minnesota market is the Hmong, as the state has the second highest Hmong population in the United States. Research on other immigrant groups finds some challenges and opportunities related to leisure and leisure-related activities, such as travel. This report provides results from initial qualitative explorations of Hmong leisure travel behaviors. Given a self-reported propensity towards outdoor recreation and nature-based tourism, Hmong are particularly important to consider in destination areas where the outdoors is a key attraction. Results will inform planning, marketing, and product development for Hmong tourists as a niche group both in the United States and Minnesota. Six focus groups occurred fall 2014 with a convenience sample of Hmong Minnesotans across three age groups (n= 56). Held in socially valued places and facilitated by a Hmong Minnesotan who could speak Hmong and English, the focus groups explored travel interests, behaviors, and preferences among participants. The discussions took place in the language preferred by the group (English, Hmong, or a combination of the two), were recorded for later review, and ended with a traditional Hmong meal. Participants were compensated for their time ($50) and invited to review and confirm the data and findings. For a copy of this report, please click here.
MMB Office Releases April Revenue and Economic Update
The Minnesota Management and Budget Office (MMB) has released the April Revenue and Economic Update. For February and March, revenues totaled $2.269 billion, which is $100 million more than projected in February. Individual income tax receipts for February and March totaled $800 million, or $21 million more than expected in February. General sales tax receipts for February and March totaled $711 million, or $7 million less than expected in February. Corporate franchise tax receipts for February and March totaled $338 million, or $72 million more than expected in February. Other revenues for February and March totaled $371 million, or $14 million more than expected in February. The overall economic outlook for the U.S. has weakened since February. Macroeconomic consultant IHS Economics expects real GDP growth to be 2.8 percent for 2015, 2.7 percent for 2016, and 2.7 percent for 2017. Overall, this projection is lower than the projections in February: compared to 3 percent for 2015, 2.7 percent for 2016, and 2.8 percent for 2017. Expectations also weakened for 2018-2019. Currently, IHS expects 2.4 percent in 2018, and 2.7 percent in 2019 (compared to 2.6%, and 2.8%, respectively). For more information, please go here to get the summary of the April Revenue and Economic Update and the complete report.
All Economic Composition Reports are Now Available
With the support of The EDA Center, the University of Minnesota Extension Center for Community Vitality now has Economic Composition reports for all regions of Greater Minnesota available. The reports completed are: North Central, Northeast, Northwest, HeadwatersSouthwest, Southeast, South Central, Mid-Minnesota, Upper Minnesota River Valley, East Central, Central, and West Central regions. Please click on each region or go to the research publications page to go to each report.
75F Named Winner of the 2014 Minnesota Cup
The prize for the best breakthrough business idea of 2014 at the Minnesota Cup goes to 75F. 75F is a Mankato, Minnesota based company, who “is an HVAC sensor technology that uses wireless zone controllers to monitor airflow temperatures in building zones to regulate building temperatures at ecologically friendly and energy efficient levels”. 75F, the Minnesota Cup winner is from the Energy/Clean Tech/Water category division was awarded the $50,000 grand prized of the Minnesota Cup, $30,000 as the Energy/Clean Tech/Water division winner plus an additional grant of $25,000 from the Southern Minnesota Initiative Foundation for a total of $105,000. The seven finalists in the Minnesota Cup competing for the final prize were:
  • Energy/Clean Tech/Water: 75F - Deepinder Singh, Blue Earth County
  • Food/Ag/Beverage: Trovita Health Science – William Brown, Hennepin County
  • General: YOXO - Jeff Freeland Nelson, Ramsey County
  • High Tech: Elevate - Joe Stanton, Dakota County
  • Life Science/Health IT: Andas Inc - Joseph Jensen, Hennepin County
  • Social Entrepreneur: Verde Environmental and Medsaway - Carter Anderson, Dakota County
  • Student: Jonny Pops - Connor Wray, Rice County

This document was prepared by the University of Minnesota, Crookston under award number 06-66-05709 from the Economic Development Administration, U.S. Department of Commerce. The statements, findings, conclusions, and recommendations are those of the author(s) and do not necessarily reflect the views of the Economic Development Administration or the U.S. Department of Commerce.

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