Southeast Minnesota is a health care and agricultural powerhouse. The region is home to the renowned Mayo Clinic and some of the world's most recognized food companies and brands.
Advanced manufacturing is especially strong here, with machinery, chemicals, and electronics among the top products.
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12/15/2022 9:00:00 AM
Retail Trade is an important sector in Southeast Minnesota, with the third largest number of jobs in the region. There were 1,593 retail trade establishments that provided 26,184 jobs in Southeast Minnesota in Quarter 2 of 2022. This accounts for 11% of the total employment in the region. The top Retail Trade sectors in Southeast include General Merchandise Retailers which provide 5,590 jobs, Food & Beverage Stores providing 5,283 jobs, and Gasoline Stations & Fuel Dealers providing 3,930 jobs. The average annual wage for Retail Trade was $32,084. The retail sector with the highest paying average annual wage is Motor Vehicles & Part Dealers, with an annual wage of $54,392 (see Table 1).
|Table 1. Southeast Minnesota Industry Employment Statistics, 2022 Q2|
|NAICS Code||NAICS Industry Title||Number of Jobs||Number of Firms||Total Payroll||Avg. Annual Wage|
|0||Total, All Industries||238,791||13,310||$3,669,908,277.00||$61,464|
|455||General Merchandise Retailers||5,590||108||$37,833,140.00||$27,040|
|445||Food & Beverage Stores||5,283||211||$30,285,662.00||$22,880|
|457||Gasoline Stations & Fuel Dealers||3,930||222||$26,194,620.00||$26,624|
|441||Motor Vehicle & Parts Dealers||3,301||241||$44,914,015.00||$54,392|
|444||Building Material & Garden Equipment & Supplies Dealers||2,869||167||$27,121,725.00||$37,804|
|459||Sporting Goods, Hobby, Musical Instrument, Book, & Misc. Retailers||2,116||264||$15,611,926.00||$29,484|
|458||Clothing, Clothing Accessories, Shoe, & Jewelry Retailers||1,234||137||$8,704,050.00||$28,184|
|456||Health & Personal Care Retailers||974||104||$9,604,091.00||$39,416|
|449||Furniture, Home Furnishings, Electronics, & Appliance Retailers||883||139||$10,024,147.00||$45,396|
|Source: DEED Quarterly Census of Employment and Wages|
Demand has remained high for Retail Trade workers in the region. In the 4th quarter of 2021, there were 1,254 job vacancies in Sales & Related Occupations. Specifically, there were 247 job vacancies for Supervisors of Sales Workers, with a median wage offer of $18.95. Only 20% of these job vacancies were for part-time employment and 0% were temporary jobs, both of which are down compared to past years. In addition, there were 905 job vacancies for Retail Sales Workers, which includes Cashiers and Retail Salespersons. 56% of these job vacancies were for part-time employment, and 6% were for seasonal positions, with a median wage offer of $14.04 (see Table 2).
|Table 2. Southeast Minnesota Job Vacancy Results, 2021 4th Quarter|
|-||Number of Job Vacancies||Part-Time Employment||Temporary or Seasonal||Median Wage Offer|
|Sales & Related Occupations||1,254||44%||4%||$15.09|
|Supervisors of Sales Workers||247||20%||0%||$18.95|
|Retail Sales Workers||905||56%||6%||$14.04|
|Source: DEED Job Vacancy Survey|
Regardless of the ability of consumers to shop online, there has typically been an increase in employment in the Retail Trade as the holiday season approaches. Between 2016 and 2020 there was an increase in employment in the Retail Trade from October to December. However, in 2021, employment in Retail Trade topped off at 12,071 jobs in November before decreasing to 12,005 in December.
Long term, Retail Trade employment has been declining from year to year, even if it increases over the winter months. There were 12,807 Retail Trade jobs in December 2016, but by December of 2021 there were 12,005 Retail Trade jobs, a decline of -802 jobs. However, in 2022, Retail Trade reported the highest employment in the month of October since 2018 (see Figure 1).
There is a higher concentration of younger workers in Retail Trade than in all other industries. Almost half (47.4%) of jobholders in Retail Trade are under 35 years of age, including 30.7% that are 14 to 24 years of age. Comparatively, 34.2% of jobholders overall are 34 or younger. In addition, there is a higher percentage of people aged 65 years and older working in Retail Trade (8.7%) compared to the total of all industries (6.5%).
Contact Amanda O'Connell at 320-441-6571.