Job vacancies reach record high in Minnesota, at 214,000 openings

The breakdown from the Division of Employment and Financial Growth is as follows:

After employers reported 205,000 vacancies in second quarter 2021, demand for staff continued to extend as employers wrestle with tight labor market situations and declining numbers of unemployed and accessible staff. With fewer than 93,000 unemployed staff statewide in fourth quarter 2021, there have been simply 0.4 unemployed individuals for every emptiness, which means there have been greater than twice as many open positions as unemployed people in Minnesota. That is the bottom ratio on file and properly down from one yr in the past when there have been 1.1 unemployed individuals for every emptiness.

The seven-county Twin Cities metro had almost 127,000 job vacancies (59% of the statewide whole), whereas Larger Minnesota had simply over 87,000 vacancies. Job vacancies elevated barely sooner (+69%) in Larger Minnesota than within the Twin Cities (+67.6%) over the yr, however with each seeing smaller numbers of unemployed staff, the Twin Cities and Larger Minnesota every had lower than 0.5 job seekers per emptiness.

Statewide, Well being Care & Social Help had 24% of all job vacancies with 52,340 openings, a rise of almost 20,500 vacancies over the yr, and the sector noticed wage presents rise 7.3% from fourth quarter 2021. The 52,340 open positions imply that for each 100 stuffed jobs, there have been 10.8 vacancies within the well being care trade as of fourth quarter 2021, as in comparison with 8.3 in second quarter 2021.

With 39,630 vacancies, Retail Commerce accounted for almost 19% of whole openings and noticed median wage presents up almost 12% in comparison with the identical quarter in 2020 as employers raised presents to draw candidates. Lodging & Meals Providers, accounting for 15% of vacancies, had barely fewer openings in comparison with the file ranges of vacancies reached in summer season 2021, however noticed wage presents up 22% over the yr. After 12 industries set new data for emptiness ranges in second quarter 2021, 5 of the 20 industries within the state once more set new emptiness data in fourth quarter 2021.

On the occupation degree, demand was highest for Meals Preparation & Serving staff, with virtually 33,000 vacancies, though barely down from second quarter 2021. Gross sales & Associated occupations, alternatively, reached one other peak at 26,800 vacancies, up only a few hundred from second quarter 2021. Mixed, these two occupational teams accounted for 28% of all openings within the state.

Healthcare occupations additionally hit new data. Demand for Healthcare Help staff – together with House Well being & Private Care Aides, Nursing Assistants and Medical Assistants – hit a file with greater than 18,000 vacancies. Healthcare Practitioners & Technical occupations, together with Registered Nurses, Licensed Sensible Nurses and Medical & Medical Laboratory Technologists and Technicians, additionally set one other file with virtually 20,000 vacancies.

All occupational teams besides Protecting Providers, which was down 15%, noticed will increase over the yr. Different occupational teams that noticed notable will increase in vacancies over the yr embody Farming, Fishing & Forestry, Private Care & Service, and Enterprise & Monetary Operations occupations, which all elevated greater than 225% over the yr. Vacancies in Meals Prep & Serving, Structure & Engineering, Life, Bodily & Social Science and Authorized occupations all greater than doubled.

The median wage provide simply hit a collection excessive at $18.09, reflecting will increase in each decrease paying and better paying occupations and a premium for staff with expertise. The median wage provide was up 9% in comparison with a 6.7% enhance within the Shopper Worth Index, a measure of inflation.