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December 2021 - Minnesota Economic Trends

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.

Pandemic-era Job Postings Reveal Top Occupations Offering Remote Work

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’s Border Battles Part 1: Cross-State Commuting Patterns

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.

Minnesota’s Border Battles Part 2: Occupational Employment Concentrations and Median Wages

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.

Minnesota Vacancies Surge in 2021

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.

Minnesota’s Aging Workforce

How we compare with others states and what industries have the oldest workforce.

Employment Growth Expected to Continue into 2022

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.

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