By Oriane Casale
February 2024
The Job Openings and Labor Turnover (JOLTS) Survey conducted by the BLS shows that the number of job openings increased by 1,000 or 0.5% in Minnesota to 210,000,000 in December on a seasonally adjusted basis. Compared to one year ago, job openings were down by 21,000 or 9.1%. This compares to an over-the-year decline of 20.9% at the national level.
Minnesota had a job vacancy rate of 6.5 in December compared to 5.3 nationally. The job vacancy rate is the share of job openings compared to the total number of filled jobs.
In Minnesota there were 0.4 unemployed workers for each job vacancy in December. This ratio declined from 0.5 from November, meaning that Minnesota's labor market is slightly tighter, making the hiring situation slightly more challenging for employers compared to the previous six months when the ratio had remained level at 0.5 unemployed for each job vacancy.
