According to a 2013 census estimate, Rochester has a population just over 110,000 people. The metro area is home to over 200,000. The city has developed into an important center for healthcare and medical technology. The Mayo Clinic, which creates about 30,000 Rochester jobs, attracts roughly 2 million visitors annually. The medical center's downtown location has also helped create jobs in the hotel, retail and service industries.
Rochester's cost of living index is rated at 85, which makes it about 17 percent cheaper than Minnesota's average and 15 percent cheaper than the national average. Nearly all of Rochester's major indices fall below the state and national averages.
Rochester's housing index helps make it an affordable place to live. Its 64 rating makes it about 32 percent lower than the state average and 36 percent lower than the U.S. average. Only the utilities index matches the national average. None of Rochester's indices exceed state or national averages.
Rochester Job Opportunities
Rochester jobs are numerous for people trained in healthcare and technology. Top employers for the area include:
Mayo Clinic, a non-profit leader in medical care, education and research
Rochester Public Schools
Olmstead Medical Center, a not-for-profit hometown healthcare provider
Hy-Vee, a supermarket chain
Charter Communications, a cable and internet service provider
The Mayo Clinic and Olmstead Medical Center play crucial roles in attracting doctors, nurses, and healthcare administrators. IBM and Charter Communications have created many technology jobs in Rochester. Residents interested in medical technology may find employment at a variety of small businesses that provide support to these large companies.
Rochester Employment Trends
Rochester has a very low unemployment that has nearly returned to its pre-recession rate. In July 2014, Rochester had an unemployment rate of just 3.8 percent. The national rate at the same time was approximately 5.5 percent. The state's rate was 4.5 percent.
Although analysts show that job growth has recently shrunk by about .03 percent, jobs are expected to grow by about 36 percent over the next decade. Currently, sales and administration jobs employ the most people in Rochester. Healthcare is the second-largest creator of jobs in Rochester, MN. Management and finance are also growing industries expected to bring more jobs to the area.
Since many of the jobs in Rochester require advanced training, some residents may want to search for jobs in Albert Lea and nearby communities. Those with the proper education and training, however, can expect to see an increase in Rochester, MN jobs.