Job postings hit record high in Minnesota with 214,000 openings – Detroit Lakes Tribune
ST. PAUL – Job postings in Minnesota hit a record high in the fourth quarter of 2021, topping 214,000 total job postings even as Minnesota employers continue to add jobs, according to figures released by the Department of Employment. and Minnesota Economic Development.
The number of vacancies in the fourth quarter of 2021 increased by 68% compared to the fourth quarter of 2020 and by 56% compared to the previous fourth quarter peak reached in 2018, before the pandemic.
While job vacancies continue to rise, the number of unemployed has continued to decline. Although Minnesota’s labor force participation rate remains below its pre-pandemic level (68.3% in April 2022 versus 70.8% in February 2020), it is well above the national average of 62.2% in April 2022.
Minnesota’s economy has shown steady growth and unemployment rates are now at historic lows.
With the release of job vacancy rates, Commissioner Grove will launch the Summer of Jobs campaign to highlight opportunities for employers and job seekers across Minnesota.
The campaign will include job shadowing some of the highest paying jobs available in the state, to highlight opportunities in manufacturing, healthcare, technology and beyond.
He will also share best practices and opportunities for employers to find talent in groups too often overlooked, such as immigrant communities, Minnesotans with disabilities, and people recently released from correctional facilities. The campaign will be statewide and begin next week with a focus on manufacturing.
“This record number of job openings is another sign that Minnesota’s economy is strong,” said DEED Commissioner Steve Grove. “Our Summer of Jobs campaign will connect job seekers and employers, highlighting the tremendous opportunity that exists for those willing to try new approaches at a dynamic time in our economy.”
After employers reported 205,000 vacancies in the second quarter of 2021, demand for workers continued to rise as employers grapple with tight labor market conditions and a drop in the number of unemployed and workers available.
With less than 93,000 unemployed statewide in Q4 2021, there were only 0.4 unemployed for every job vacancy, which means there were more than twice as many vacancies as unemployed. in Minnesota. This is the lowest ratio on record and well below that of a year ago, when there were 1.1 unemployed for every vacancy.
The seven-county Twin Cities metro had nearly 127,000 vacancies (59% of the state total), while Greater Minnesota had just over 87,000 vacancies. Job vacancies grew slightly faster (+69%) in Greater Minnesota than in the Twin Cities (+67.6%) during the year, but as both saw fewer unemployed, the Twin Cities and the Greater Minnesota each had less than 0.5 job seekers. per vacancy.
Statewide, health care and social assistance accounted for 24% of all vacancies with 52,340 vacancies, an increase of nearly 20,500 vacancies during the year, and the sector saw wage vacancies increase by 7.3% compared to the fourth quarter of 2021. The 52,340 vacancies mean that for every 100 jobs filled, there were 10.8 vacancies in the healthcare sector in the fourth quarter of 2021, compared to 8.3 in the second quarter of 2021.
With 39,630 job vacancies, retail accounted for nearly 19% of total openings and saw median wage offers rise nearly 12% from the same quarter in 2020 as employers increased offers to attract applicants. . Accommodation & Food, which represents 15% of vacancies, recorded slightly fewer openings compared to the record levels of vacancy reached in the summer of 2021, but saw its salary offers increase by 22% over the year. After 12 industries set new vacancy rate records in the second quarter of 2021, five of the state’s 20 industries again set new vacancy records in the fourth quarter of 2021.
At the occupation level, demand was highest for food preparation and service workers, with nearly 33,000 vacancies, although down slightly from the second quarter of 2021. Sales occupations and related activities, on the other hand, hit another high at 26,800 vacancies, up just a few hundred. beginning in the second quarter of 2021. Together, these two occupational groups accounted for 28% of all openings in the state.
Health professions also hit new records. Demand for healthcare support workers – including home and personal care workers, orderlies and medical assistants – has hit a record high with more than 18,000 vacancies. Health professionals and technical occupations, including registered nurses, licensed practical nurses and medical and clinical laboratory technologists and technicians, also set another record with nearly 20,000 vacancies.
All occupational groups, with the exception of Protective Services, which declined 15%, recorded increases during the year. Other occupational groups that saw a notable increase in vacancies over the year included agriculture, fishing and forestry, personal care and services, and business and financial operations. , all of which grew by more than 225% during the year. Vacancies in food preparation and serving, architecture and engineering, life, physical and social sciences and legal professions all more than doubled.
The median wage offer easily hit a series high at $18.09, reflecting increases in low- and high-wage occupations and a premium for experienced workers. The median wage offer rose 9% against a 6.7% increase in the consumer price index, a measure of inflation.
Here are the additional results of the study:
Hours and permanent/temporary status: 30% of all vacancies are part-time, or less than 35 hours per week. The share of part-time vacancies, at a low level, continued to fall as employers seek to make better use of their workforce, falling from just over 40% in the fourth quarter of 2017. Temporary work or seasonal represents 6% of all vacancies. This figure is also historically low, as employers seek to offer more permanent positions to attract workers.
Education and experience requirements: 32% of job vacancies require some level of post-secondary education or training beyond a high school diploma. This means that the other two-thirds of vacancies require no education beyond a high school diploma or equivalent. The percentage of job postings requiring post-secondary education has declined due to the tight labor market as employers seek to broaden their pool of candidates by lowering education requirements.
Meanwhile, 50% of vacancies require one or more years of work experience, an increase from previous experience requirements. The percentage of vacancies requiring work experience has increased over time.
Visit the DEED website for details on the Q4 2021 Vacancy Survey.
DEED conducts the Job Vacancy Survey in the second and fourth quarters of each year to gauge hiring demand and determine characteristics of job vacancies by industry, occupation, and company size in Minnesota.
DEED is the state’s premier economic development agency, promoting recruitment, business expansion and retention, workforce development, international business, and community development. For more details about the agency and its services, visit the DEED website, the JoinUsMn.com website, or follow the agency on Twitter.