CPED announces the release of the 2010 Fourth Quarter Minneapolis Trends and Major Development Project Maps, available at the following links:
This quarter’s Minneapolis Trends reflects growing evidence that City’s economic and housing markets are emerging from the recession:
- 5,000 jobs were added in the City in the most recent reporting period [1st quarter → 2nd quarter 2010].
- Although the metro and city labor force declined slightly in the 4th quarter, over the entire 2010 calendar year nearly 2,500 more city residents were employed than in 2009, and the annual average unemployment rate of 6.6% remained lower than the metro, state, and national rate for the second year in a row.
- 582 new residential units were permitted in the 4th quarter. For 2010 overall, 878 new residential units were permitted, more than twice the previous year’s total and more than any other city in our metro region.
- The Minneapolis CBD office vacancy rate declined slightly and remained about 1% lower than the metro rate; the CDB’s retail vacancy rate also declined slightly, but remains higher than the metro-wide average.
Manager, Special Projects and Research
Community Planning & Economic Development
105 Fifth Avenue South Suite 200
Minneapolis, MN 55401 - 2534