By Oriane Casale
The Job Openings and Labor Turnover (JOLTS) Survey conducted by the BLS shows that the number of job openings increased by 3,000 or 1.5% in Minnesota to 206,000 in September on a seasonally adjusted basis. Compared to one year ago job openings were down by 6,000 or 2.8%. This compares to an over-the-year decline of 12.0% at the national level.
Minnesota had a job vacancy rate of 6.4 in September compared to 5.7 nationally. The job vacancy rate is the share of job openings compared to the total number of filled jobs.
In Minnesota there were 0.5 unemployed workers for each job vacancy in September. This ratio has been level since May 2023 when it was 0.4 and is up from 0.3 one year ago. This indicates that, while Minnesota's labor market remains extremely tight, the hiring situation has improved somewhat over the year.
Minnesota ranked 17th tied with 15 other states on this measure in September. Nationwide, there are 0.7 unemployed workers for each job vacancy, up from 0.5 one year ago.