by Oriane Casale
November 2024
The Job Openings and Labor Turnover (JOLTS) Survey conducted by the BLS shows that in Minnesota the number of job openings fell to 184,000, down 1.1% over the month in September on a seasonally adjusted basis. Compared to one year ago, job openings were down by 1,000 or 5.6%. This compares to an over-the-year decline of 20.8% at the national level.
Hires fell 3.7% over the year in September in Minnesota and 4.6% nationally. Total separations fell11.4% over the year in Minnesota and 5.9% nationally.
Minnesota's job openings rate ticked down to 5.7% in September. Nationally, the rate is 4.4% (see figure below). The job openings rate is the number of job openings as a percent of total employment plus job openings.
In Minnesota there were 0.6 unemployed workers for each job vacancy in September – or six unemployed works for every 10 job openings. This ratio is flat from last month and in line with where it has been for most of this year, indicating that Minnesota continues to have a tight labor market where there are fewer than one unemployed worker for every job opening. Nationwide the ratio was 0.9, unchanged from the previous three months.
