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Economic Analysis 23 <br />Commercial Land Site - SWC of Middle Street and Market Place Drive <br />Major Employers <br />The following table lists a number of major employers with the Minneapolis MSA as reported by <br />Moody’s. While not all-encompassing, this list provides further indication of the types of <br />economic sectors that are drivers for the area. <br /> <br />Analysis <br />Further economic analysis from Moody’s is detailed as follows: <br />Help Wanted <br />Labor shortages will ease as the coronavirus disrupts demand. Despite the metro area's above- <br />average labor force growth, businesses have reported difficulty filling open positions for some <br />time. The unemployment rate is hovering slightly above its cycle low, and the Federal Reserve's <br />Beige Book report points to elevated levels of hiring among businesses and fewer jobless claims <br />in recent months. However, there were some signs of weaker demand for labor even before <br />COVID-19 emerged. The average workweek suggests businesses have been trimming hours. <br />Temporary employment, a leading indicator, was down more than 10% year over year in the fourth <br />quarter, and there is little evidence that the positions were converted into permanent jobs in other <br />industries. <br />Rank Employer Employees <br />1 Allina Health System 27,635 <br />2 Target Corp. 26,694 <br />3 University of Minnesota 26,436 <br />4 HealthPartners 22,500 <br />5 Fairview Health System 22,000 <br />6 Wells Fargo & Co. 20,000 <br />7 UnitedHealth Group 15,750 <br />8 CHS Inc. 12,157 <br />9 U.S. Bancorp 12,010 <br />10 Land O'Lakes Inc. 10,000 <br />11 3M Co. 10,000 <br />12 Medtronic Inc. 9,000 <br />13 SUPERVALU Inc. 9,000 <br />14 Delta Air Lines 8,500 <br />15 Park Nicollet Health Services 8,342 <br />16 Hormel Foods Corp. 8,256 <br />17 Best Buy Co. Inc. 8,000 <br />18 HealthEast 7,500 <br />19 Hennepin County Medical Center 7,401 <br />20 Thompson Reuters North American Legal 7,400 <br />Source: Moody's Analytics Précis® US Metro <br />Selected Major Employers: Minneapolis MSA