By Oriane Casale
October 2023
The Job Openings and Labor Turnover (JOLTS) Survey conducted by the BLS shows that the number of job openings increased by 13,000 or 6.5% in Minnesota to 214,000 in August 2023 on a seasonally adjusted basis. Job openings were down by 2,000 from one year ago or 0.9%. This compares to a decline of 5.8% at the national level over the year.
Minnesota had a job vacancy rate of 6.7 in August compared to 5.8 nationally. The job vacancy rate is the share of job openings compared to the total number of filled jobs.
Minnesota had 0.5 unemployed workers for each job vacancy in August, unchanged from July. This is up from one year ago, which was at 0.3 unemployed workers for every job opening. This indicates that, while Minnesota's labor market remains extremely tight, the hiring situation has improved somewhat over the year.
Minnesota ranked 15th tied with 20 other states on this measure in August. Nationwide, there are 0.7 unemployed workers for each job vacancy, up one-tenths from one year ago.
