The workforce shortage remains a central theme in this edition of Minnesota Economic Trends. DEED Labor Market Information analysts share findings from the latest Job Vacancy Survey, provide the quarterly jobs forecast and explore the aging workforce in Minnesota and other states, cross-state commuting patterns and occupational concentrations, plus a look at which occupations are likeliest to offer remote work – and potential remote work trends, among other articles.
From June 2020 to October 2021, the share of Minnesota job postings offering the option of working remotely nearly doubled, going from 5.3% to 10.4%. Find out which occupations have the most remote offerings and more in this article.
Minnesota is a net importer of labor, meaning we attract more non-residents to fill jobs than there are residents who leave the state for work. As Minnesota employers look for ways to find new workers, they may want to look for ways they could leverage commuting patterns when attracting talent.
From an occupational standpoint, Minnesota shares many similarities with its neighboring states, but there are also some notable differences. First, Minnesota and Wisconsin have by far the largest economies in the five state region. Second, Minnesota has a greater concentration of jobs in higher-paying service-providing occupational groups than neighboring states. This is a key part of Minnesota’s appeal as a net importer of labor.
Through the first 10 months of 2021, Minnesota employers added just over 190,000 jobs back onto their payrolls, climbing back above 2.9 million jobs in October.
How we compare with others states and what industries have the oldest workforce.
The state of Minnesota is projected to add just under 62,000 jobs between the third quarter of 2021 and the third quarter of 2022, an expansion of 2.1% over the year. This rate of employment growth is forecasted to slow from the more robust recovery that characterized mid-2020 to mid-2021.
Our state, like much of the nation, is experiencing an unprecedented health care workforce shortage that’s impacting thousands of Minnesotans at a critical point in our fight against the pandemic.