DEED's Job Vacancy Survey shows that Central Minnesota has been experiencing notable shifts in its job market, with significant new trends in job openings across various industries. As the region continues to evolve, these statistics provide crucial insights into the economic health and labor demands of Central Minnesota employers. Key sectors such as Construction and Manufacturing are among those showing a substantial decline in the number of openings, reflecting broader economic dynamics.

Broadly speaking, job openings declined in 2023 at Central Minnesota establishments, from more than 20,000 in 2021 and 2022 to 14,000 in 2023, representing a 30% decline from post-pandemic peaks. Just seven industries saw an increase in job vacancies over the year; while the other 12 declined. Though this substantial drop in job openings might cause some uneasiness, it's important to understand that it reflects a shift back to pre-pandemic recession levels.

Job openings hovered around 10,000 to 15,000 from 2015 until 2020; then hit record high levels following the Pandemic Recession in 2020 and for two years saw an explosion of openings as employers struggled to meet consumer demand. It's unclear yet if employers will have fewer openings in 2024 than 2023, but relevant indicators like unemployment rates, employment trends, and wage growth suggest the labor market will remain competitive even if it's less stressed than the past few years.

Of all openings in Central Minnesota in 2023, roughly a quarter had a median wage offer below $16.43, which is the wage needed for a single person without children to meet a basic needs cost of living standard in Central Minnesota. The most common openings with wages below the basic needs cost of living wage are often held by high school students, part-time workers, or held as second jobs; such as Fast Food Workers, Personal Care Aides, Food Prep Workers and Waiters/Waitresses.

Occupations with lots of openings that also had relatively high median wage offers (over $20) include jobs like: Registered Nurses, CDL Truck Drivers, Licensed Practical Nurses, First-Line Supervisors of Retail Sales Workers, Automotive Technicians and Light Truck Drivers. The 20 most common job openings in Central Minnesota and their median wage offer are shown in Figure 1. This variety of occupations underscores the widespread demand for labor, even if there is less need than the past few years.

For More Information

Contact Luke Greiner, Labor Market Analyst, at luke.greiner@state.mn.us