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IAA Metropolitan Council <br />AA <br />• Regional Employment Growth <br />2000 Baseline: <br />2030 Target: <br />Regional Benchmarks <br />Measuring Our Progress <br />2011 Update <br />1,607,916 jobs <br />2,126,000 jobs or, on average, 17,300 jobs added per year <br />2010 Actual: 1,542,000 jobs or, on average, -6,600 jobs lost per year <br />Two recessions over the last Regional Employment Growth <br />decade dragged regional <br />employment trends below the <br />benchmark growth rate. The <br />2030 employment forecasts <br />ventured an increase of <br />518,000 jobs between 2000 <br />and 2030. To meet this <br />forecasted growth, regional <br />employment must grow an <br />annual average of 17,300 jobs <br />from 2000 to 2030. So far, <br />from 2000 to 2010, regional <br />employment has shrunk by an <br />average of 6,600 jobs per <br />year. Most of these job losses <br />followed the Great Recession (2007-08); however, the 2001 recession and its subsequent <br />jobless recovery also dampened annual job growth rates. Even before the Great Recession, <br />regional employment grew at an annual rate of 3,400 jobs from 2000-2007 (20% of the annual <br />benchmark rate). <br />0 <br />rn <br />o' <br />J <br />Lrc <br />Target <br />Job Growth: <br />17,300 <br />2000 2001 2002 2003 2004 2005 2006 2007 2008 <br />N <br />M <br />Relative to the largest metropolitan <br />areas, Twin Cities' job growth over <br />the last decade fell within the <br />bottom half. The Minneapolis -St. <br />Paul Metropolitan Statistical Area <br />(MSA) ranked 18th among the 25 <br />largest U.S. metropolitan areas on <br />job growth from 2000 to 2010. <br />Minneapolis -St. Paul MSA job <br />growth during this period was more <br />typical when compared with the <br />largest metropolitan areas in the <br />Midwest and Northeast —the Twin <br />Cities ranked 5th among the largest <br />Midwestern and Northeastern <br />metropolitan areas. <br />Thousands <br />Employment Change <br />1,750 <br />1,500 <br />1,250 <br />1,000 <br />750 <br />500 <br />250 <br />rn <br />0 <br />00 <br />h. <br />Target Job Growth <br />Regional Employment Growth <br />1,625 <br />1,660 <br />1,694 <br />1,729 <br />1,764 <br />2010 <br />oo <br />1,781 <br />9oto�ole �oto�ole �ototo <br />Actual Employment <br />Employment if Growth Equaled Annual Target Growth Rate (+17,300) <br />Sources: Quarterly Census of Employment and Wages, Minnesota Department of Employment and Economic <br />Development; Current Employment Statistics, Bureau of Labor Statistics, U.S. Department of Labor. <br />• Employment Distribution — 2030 Net Growth <br />4 <br />