It’s over, but it’s not over

Published On: November 2nd, 2022|Categories: Blog|

Last Month was Manufacturing month across the US. We manufacturers look to celebrate ourselves, but more importantly, make our presence known, and highlight what we have to offer the working adults in our areas. (AND WE HAVE A LOT TO OFFER)

Now that it is November, we are still celebrating Manufacturing, and you should be also!

Statewide,

  • Manufacturing accounted for $56 billion or 14% of Minnesota’s gross domestic product and provided more than 310,000 jobs or 11.3% of employment in 2021.

 

  • Workers took home $23.4 billion in wages from Minnesota manufacturing jobs in 2021, the second-largest total payroll among private sector industries. Average annual wages for workers in manufacturing are $74,630, 10% higher than across all industries in Minnesota.

 

  • From September 2021 to September 2022, manufacturing posted 15,937 additional jobs in Minnesota, up 5.1% over the year, compared to 3.7% nationally. Demand for manufacturing workers is projected to remain strong: Minnesota is expected to have more than 75,000 job openings for manufacturing production positions alone through 2030.

Regionally,

  • With 660 establishments providing 35,935 jobs, Manufacturing remains the second largest employing industry in Southeast Minnesota. Of the six planning regions in the state, Southeast MN has the second highest concentration of Manufacturing employment at 15.2%, well ahead of the statewide percentage of 11.3%. Southeast Minnesota has long maintained a stronger reliance on Manufacturing than the state as a whole.

 

  • In the aftermath of the pandemic recession, some Manufacturing subsectors saw job declines in Southeast Minnesota, but many others saw growth. The largest expansion occurred in Plastics & Rubber Products Manufacturing, which added 224 jobs for a 17.6% growth rate. (PlastiCert’s revenues are up 23+% over 2021, we have seen a 13% increase in coworkers).

 

  • Already among the higher paying sectors in the region, wages increased just over 3% in Manufacturing in the SE MN region over the past year. ( PlastiCert, anticipating the inflation numbers we are currently seeing, provided an average of 8.1% increase for FT hourly coworkers.)

Times are good for a Manufacturing career if you live in SE Minnesota. It is a great place to live AND work, and even better if you hang your hat at PlastiCert. Check us out

 

Data supplied from MN DEED reports https://mn.gov/deed/newscenter/social-media/deed-developments/

 

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