MN job vacancies up 16 percent
Minnesota employers reported nearly 114,000 job vacancies in the fourth quarter of 2017, up 16 percent from the same period one year earlier, according to figures released today by the Minnesota Department of Employment and Economic Development.
DEED's biannual Job Vacancy Survey found that the state had 0.8 unemployed people for every job vacancy. The job vacancy rate was 4.2 percent, meaning there were 4.2 openings for every 100 jobs in the state. In the 2016 fourth quarter survey, the statewide job vacancy rate was 3.6 percent.
"These figures indicate that both the economy and hiring demand are strong statewide," said DEED Commissioner Shawntera Hardy. "This tight labor market underscores the importance of investing in DEED's and other training programs, specifically for Minnesotans with barriers to employment, and deploying strategies to help employers find the talent they need."
The seven-county Twin Cities metro had 68,854 job vacancies (60.5 percent of the statewide total), while Greater Minnesota had 44,919 job vacancies.
Job vacancies in the Twin Cities were up 19.3 percent from the same quarter one year ago, while job vacancies in Greater Minnesota were up 13.3 percent.
The Twin Cities had 0.6 unemployed people for every vacancy, while in Greater Minnesota the ratio of unemployed people to vacancies was 1 to 1.
Half the jobs are part-time, seasonal or temporary. The rest are full time. About a third of the jobs require some kind of higher education or certification, while 46 percent required one or more years of work experience.
The median (50th percentile) wage offer for all job vacancies was $14.34 per hour, and just 55 percent of vacancies (usually full-time positions) offered health insurance.