Economy & Employment
Minnesota’s economy has and continues to change. It has shifted from primarily agriculture and manufacturing to being more diverse and service focused. MnDOT and partners need to understand how the economy is changing to better align the transportation system with the demands of industry, the workforce and commerce. There are many trends in Minnesota that affect how the state’s economy changes over time. For example, an aging population requires growing health and social services to provide care. The professional service industry continues to grow to support an economy ever-more rooted in technology. Analyzing these trends and others is an important step toward understanding how people and goods will need to move throughout the state. This paper highlights some of the key factors that are likely to drive economic change in Minnesota and their implications for the state’s transportation system. This report also discusses the impacts of COVID-19 on multiple industries, workforce and how the economy has recovered. While unemployment increased significantly due to the pandemic, unemployment has since returned to pre-pandemic trends. However, due to factors such as the pandemic and an aging workforce, job growth has slowed down in recent years and is projected to continue. Job vacancy numbers have also increased, especially in Greater Minnesota.