Eleven years ago, Minnesota was on the cusp of a recession that ultimately would cost the state more than 160,000 jobs and leave 235,000 people unemployed.

Much has changed since then. As the cover story in the 2018 State of the State issue of Trends notes, after nine consecutive years of economic growth Minnesota now faces labor market conditions as tight as anyone can remember.

The state set a fourth-quarter record with nearly 114,000 job vacancies late last year and had more open jobs than people to fill them. Employers in virtually every industry in the state were scrambling to fill vacant positions.

Welcome to the new reality.

If it’s any consolation, Minnesota isn’t alone. According to the story, job growth in Minnesota slowed to 0.7 percent though the first four months of the year, likely because of labor supply problems rather than a weakening economy. Likewise, job growth in surrounding states also slowed during that period: 0.7 percent in Indiana, 0.7 percent in Iowa, 0.5 percent in Nebraska, -1.3 percent in North Dakota, and 0.9 percent in Wisconsin.

With baby boomers continuing to retire in large numbers over the next decade, economists expect tight labor market conditions to persist for some time.

What that will mean for the overall economy is anybody’s guess. Like the rest of the country, Minnesota is entering uncharted territory.

Read more about the new era of worker shortages in the latest issue of Trends.