Vacancies up 15.7 percent from one year ago
9/21/2018 12:35:05 PM
Monte Hanson, 651-259-7149
ST. PAUL – Minnesota employers reported a record 142,282 job vacancies in the second quarter, up 15.7 percent from the same period one year earlier, according to figures released today by the Minnesota Department of Employment and Economic Development (DEED).
DEED’s biannual Job Vacancy Survey found that the state had 0.6 unemployed people for every job vacancy. The job vacancy rate was 5.2 percent, meaning there were 5.2 openings for every 100 jobs in the state. The number of unemployed people per vacancy was a record low, while the job vacancy rate was a record high.
“These figures reflect a very strong economy and high demand for labor statewide,” said DEED Commissioner Shawntera Hardy. “At the same time, they underscore the need for DEED and its partners to continue investing in training programs, specifically for Minnesotans on the economic sidelines, to meet the talent needs of employers and to ensure that the economy continues to grow.”
The seven-county Twin Cities metro had 82,100 job vacancies (57.7 percent of the statewide total), while Greater Minnesota had 60,200 job vacancies. Job vacancies in the Twin Cities were up 11.1 percent from the same quarter one year ago, while job vacancies in Greater Minnesota were up 22.7 percent.
The Twin Cities had 0.5 unemployed people for every vacancy, while Greater Minnesota had 0.7 unemployed people for every vacancy.
Statewide, the health care and social assistance industry accounted for 17 percent of vacancies, followed by accommodation and food services (16 percent), retail trade (12 percent), manufacturing (8 percent), and educational services and construction (5 percent each).
The occupations with the most job vacancies were food preparation and serving, with 7,600 vacancies, followed by retail sales with 7,100 vacancies and personal care with 6,700 vacancies.
By size, firms with 10 to 49 employees had the highest job vacancy rate at 7.7 percent (7.7 openings per 100 jobs). Firms with one to nine employees had a job vacancy rate of 6.6 percent, while firms with 250 or more employees had a vacancy rate of 2.8 percent.
The following were other findings of the study:
1. Thirty-eight percent of job vacancies were for part-time employment. Part-time is defined as fewer than 35 hours per week.
2. Twelve percent of job vacancies were for temporary or seasonal work.
3. Thirty-one percent of vacancies required some level of postsecondary education or training beyond a high school diploma.
4. Forty-six percent of job vacancies required one or more years of work experience.
5. The median (50th percentile) wage offer for all job vacancies was $14.54 per hour. Wage offers are highly correlated with experience and education requirements. On average, the more education and/or experience required, the higher the wage offer.
6. Fifty-six percent of vacancies offered health insurance. Health care benefits are less common for part-time job vacancies than for full-time job vacancies.
Go to the DEED website for more details on the second quarter 2018 Job Vacancy Survey.
DEED conducts the Job Vacancy Survey in the second and fourth quarters each year to gauge hiring demand and to determine job vacancy characteristics by industry, occupation and firm size in Minnesota.
DEED is the state’s principal economic development agency, promoting business recruitment, expansion and retention, workforce development, international trade and community development. For more details about the agency and its services, visit the DEED website or follow us on Twitter.
Upon request, this information can be made available in alternate formats for people with disabilities by contacting the DEED Communications Office at 651-259-7161.