Laura KalambokidisSchools for Equity in Education

April 24, 2015Minneapolis, MN

Preparing for Minnesota’sChanging Economy

MINNESOTA MANAGEMENT & BUDGETMMB.STATE.MN.US

Percent of Total Non-Farm Employment by Sector (2013)

Minnesota’s diverse industry profile mirrors U.S.

Source: MN Department of Employment and Economic Development (DEED)2

Minnesota’s economic expansion continues

Source: Minnesota Department of Employment and Economic Development (DEED)

Regional center unemployment rates falling

4

Minnesota’s low unemployment neighborhood

Source: U.S. Bureau of Labor Statistics

2.9

3.4

3.7

2.7 4.1

State unemployment rates Seasonally adjusted, February 2015

5th lowest among U.S. states

(February 2015)

Some groups still face high unemployment

11.4%

7.2%

3.4%

12.4

5.1

3.1

Many part-time workers want full time work

Officially unemployed

Officially unemployed + marginally attached + discouraged +part-time under-employed

Leadership choices will affect future economic performance

• Productivity matters– Worker health– Education– Research, innovation– Infrastructure

• Leave no worker behind• Leave no entrepreneur behind