Regional Insights
This month's blogs offer insights into various aspects of each region's labor market and demographics, including a focus on the growing Hispanic or Latino populations in Northeast and Southwest, increasing diversity in Manufacturing in the Twin Cities, overlooked labor pools in Southeast, rising wages in Northwest, and career planning in Central. For more local information, please reach out to your Regional Analyst!
The pursuit of higher education is not the only path to employment success. While a college degree can open doors and lead to well-paying careers, there are plenty of lucrative opportunities in Central Minnesota and across the country available for individuals without a college degree. It's essential to understand that success in these fields often requires a combination of relevant skills, practical experience, and a proactive approach.
The Metro Area Local Look recently highlighted the importance of Manufacturing to the region's labor market and economy, timed along with the celebration of Manufacturing Month in October. As the Metro Area's second largest-employing industry sector, with about 175,000 jobs, Manufacturing deserves the spotlight once more. This time around the light will shine on Manufacturing demographics and how the industry is becoming more diverse with time.
To celebrate National Hispanic Heritage month, here is a brief profile of the Hispanic or Latino workforce in Northeast Minnesota. The story of many Hispanic or Latino residents in the state and region began with migration, often in search of work. While most opted for areas to the south or west in the state, Northeast Minnesota has a small but increasing Hispanic or Latino population.
Wages for jobs in Northwest Minnesota have increased to entice workers to fill open positions, with median wage offers for job vacancies climbing 4.7% per year from 2019 to 2022. However, wages for filled positions have increased even more, with the median wage for all jobs increasing 6.1% per year from 2019 to 2022.
In line with broader state trends, Southeast Minnesota is grappling with a challenging labor market characterized by a job seeker-to-vacancy ratio of 0.3-to-1 according to the most recent Job Vacancy Survey results from the second quarter of 2022. This tight labor market has prompted businesses in the region to seek innovative approaches to attract and retain a skilled workforce. By utilizing labor market information, businesses can identify overlooked labor pools within the region to fulfill their hiring needs and provide employment opportunities to those seeking jobs.
With nearly 30,000 residents, almost 7.5% of Southwest Minnesota's population reported being of Hispanic or Latino origin in 2021. At that rate, Southwest has the highest concentration of Hispanic or Latino residents of the six planning regions in the state, nearly 2% above the state as a whole. While the region's total population increased less than 1% over the past decade, the region welcomed more than 9,000 additional Hispanic or Latino residents, a 45% increase.
LMI Training Sessions
DEED's Regional Analysts have scheduled a set of Labor Market Information training sessions for the fall and winter of 2023. These hands-on training sessions 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 (mn.gov/deed/data/) and learn how to use them to understand the local economy and provide guidance to jobseekers and others.
|
