Regional Job Vacancy Survey Results
Our regional analysts have put together a new set of blogs for March focusing on the new 2022 Job Vacancy Survey results, which were down compared to 2021 but are still near historic highs. For more information, please reach out to your local Regional Analyst!
According to newly released data from DEED's Job Vacancy Survey (JVS), employers in the Twin Cities Metro Area reported 98,330 job vacancies in 2022. This represents the third highest number of job vacancies in the region since the JVS data was first collected in 2001, only behind the record number of openings reported in the second and fourth quarters of 2021.
The record high numbers of job openings continued in 2022, with just over 20,000 vacancies reported in the thirteen counties of Central Minnesota. Although openings fell from the peak recorded in 2021, they are still well above historical norms. To give you an idea of just how many openings that is, it amounts to 7.5% of all employment in the region. Or, for every 100 filled jobs in the region, 7.5 are unfilled and open for job seekers.
There were an estimated 12,388 job vacancies in Northeast Minnesota in 2022, across all industries and occupations. Vacancies were up slightly overall (+0.6%) from 2021 into 2022, indicating continued high demand for workers across the region, compared to a slight decline of openings statewide. Over the year, Educational Services, Manufacturing, Health Care & Social Assistance, and Finance & Insurance saw the largest growth in openings in Northeast Minnesota.
The recently released Job Vacancy Survey shows that Northwest Minnesota's labor market remains extremely tight. The estimated 20,409 job vacancies reported by employers is a new all-time record for the region, going back to 2001. This unprecedented hiring demand, combined with record low unemployment, reveals a labor market that is tighter than at any time since these statistics have been produced.
Newly released data from DEED's Job Vacancy Survey showed 19,304 job vacancies in Southeast Minnesota for the second quarter of 2022. This is the second highest number ever reported for the second quarter in the region, with the highest number being the second quarter of 2021, when employers posted 21,510 job vacancies. Southeast made up 10.5% of the total vacancies in the state in 2022.
With just over 14,000 job vacancies in the second quarter of 2022, employers in Southwest Minnesota saw the second highest number of vacancies on record, after setting the record for the fourth quarter the prior year. In contrast, there were an average of less than 4,900 unemployed workers in the region during 2022, meaning there were just 0.3 jobseekers available for every vacancy. Employers have gotten used to an environment where jobs have outnumbered jobseekers starting in 2017, with the exception being the outset of the pandemic in 2020.
Labor Market Training Sessions
DEED's Regional Analysts have scheduled a set of Labor Market Information training sessions for the spring and summer of 2023. These hands-on training sessions - whether virtual or in-person - will help attendees learn where to find and how to use DEED’s labor market information data tools. Attendees will navigate data tools on our website (www.mn.gov/deed/data/) and learn how to use them to understand the local economy and provide guidance to jobseekers and others.
Please note that there are a variety of options available for different audiences including DEED and partner staff; workforce development, human resource, and economic development professionals; and other partners in the system. Check the title and location when registering for the session that works best for you.
Depending on the session, topics covered may include:
- Occupations in Demand and Current Job Vacancy Results
- Occupational and Industry Employment Trends and Projections
- Cost of Living and Wage and Salary Data
- Labor Force, Employment, and Unemployment Statistics
- Demographic and Social Characteristics
- Graduate Employment Outcomes and Career Exploration
Please reach out to your regional analyst if you or your staff would be interested in having a customized LMI training session. We would be happy to accommodate your training requests, either on LMI Data Tools or local economic conditions!
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