DEED Call for Business 9/17/2020
APPLE VALLEY CHAMBER NOTE: Today’s DEED conference call is “ALL ABOUT THE STATS.” TAKE A QUICK LOOK including MONEY RUNNING OUT FOR EXTENDED UNEMPLOYMENT INSURANCE EXTRA $300. The notes are shorter than usual.
2020 09 17 Call, DEED
Thursday, September 17, 2020
Robert Doty, Asst Commissioner of Revenue
Anna Peterson, Staff, DEED
Steve Grove, DEED
Kevin McKinnon, Deputy Commissioner for ED, DEED
Darielle Dannon, Legislative Director, DEED
Nicole Blissenbach, DLI
DEED, Steve Grove
- Paid out 6 weeks of lost wages per FEMA, $300 extra/mth. If you qualified, that represents $1800. Should arrive in bank accounts by end of this week.
- MN has asked for 7th week of benefits, but FEMA doesn’t believe money will be available.
- Today: monthly jobs report: we are seeing slow recovery, ahead of the country on most metrics.
- Unemployment rate down to 7.4%, down from 7/7% last year. Nation is at 8.4%.
- MN’s peak was 9.4% in May, US high was 14.4% in April.
- 44K new jobs.
- Up 1.5% in job growth compared to job #s in July. US is 1% up overall.
- Much comeback from govt: census workers, service industry jobs
- 7800 hospitality, 7100 food
- Financial activities sector lost .1% jobs.
- Down 7.3% jobs overall. 7.0% overall in US.
- Bright spots here: retail trade. Completely rebounded from job loss in retail trade, the only sector. Online retail is really growing.
- Prof services doing better than the nation overall.
- Temp agencies doing better overall.
- Food mfg bounced back, up year over year, at 1.1%. Up 54% food production exports year over year in Q2.
- Reskilling: Service sector remains challenged. People need to be thinking about transitions, in case some jobs never come back. We are working to help people find jobs/careers that ARE in demand. We now have over 54K jobs posted to our state jobs site.
- People of color, 6-mth rolling average is 16.3%, 9% for Hispanic, 6.7% for white Minnesotans.
- Black Minnesotans much higher % in hospitality industry.
- MN’s work ethic: labor force participation rate. At 70% before pandemic, now at 69.8%. 61.7% national average. We are one of top 3 states. One of our true strengths.