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Met Council expects population growth to slow

REGIONAL FORECAST: HOUSEHOLD GROWTH REVISED DOWNWARD; POPULATION GROWTH EXPECTED TO SLOW


"The Twin Cities region will gain 803,000 residents between 2010 and 2040, bringing the region’s population to 3,653,000, according to updated regional forecasts published by the Metropolitan Council in November. The estimated 2018 population of the seven-county metro area is 3,113,000.


"Over the same years, the metro area will add 472,000 jobs, reaching more than two million jobs by 2040. Half of those jobs have already been added during 2010-2019, meaning job growth is expected to slow in the next two decades as the regional and national economies struggle with long-term workforce shortages and the replacement of baby boom generation workers."


Highlights include:

The racial and ethnic profile of the workforce will shift dramatically from 80% white and 20% people of color in 2010 to 59% white and 41% people of color in 2040."


"The population of children and young adults of color will grow 60% between 2010 and 2040. Concurrently, the white population under age 25 will shrink. These trends will have significant implication for both school enrollments and workplaces."


"The Council has updated its regional forecasts every two years since 2015. It relies on a nationally used regional model of macroeconomic and demographic dynamics.


"The Council approved a complete update of local forecasts in 2015 and will issue the next complete update of local forecasts in 2022 or 2023. In the interim, the Council considers adjustments of local forecasts in response to local government requests."

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