MN Reports Highest No. of Q2 Job Vacancies Since Pre-Recession

More than half of the openings are in the Twin Cities, and nearly two-thirds are at mid-sized companies—those with 10 to 249 employees.
MN Reports Highest No. of Q2 Job Vacancies Since Pre-Recession

Job vacancies in Minnesota climbed 15.1 percent in the second quarter of 2012 compared to the same period a year ago, according to a report released Thursday by the Minnesota Department of Employment and Economic Development (DEED).
 
Employers in the state reported nearly 63,000 openings during the quarter, up from 54,670 openings during the same period in 2011. The number of vacancies was also the highest reported in a second quarter since 2006, when nearly 65,000 vacancies were reported.
 
There were 2.6 unemployed people for each vacancy, compared with 3.6 unemployed people per vacancy during last year’s second quarter, according to the report.
 
“Job vacancies in the state have returned to levels that we haven’t seen since before the Great Recession,” DEED Commissioner Mark Phillips said in a statement. “While finding work remains difficult for many people, the latest survey is a positive sign that the labor market is recovering.”
 
Nearly 34,600 openings, or 55 percent of the vacancies, were in the Twin Cities metro area. But the study found a higher job vacancy rate—number of vacancies per 100 jobs—in Greater Minnesota (2.8 percent) compared to the Twin Cities (2.3 percent).
 
Jobs in health care and social assistance accounted for the most vacancies (16.5 percent), followed by accommodation and food services (13.4 percent), retail trade (11.5 percent), educational services (10 percent), and manufacturing (8.2 percent).
 
Mid-sized firms—those that have 10 to 249 employees—accounted for the majority of the openings (64.5 percent). Large firms—those that have 250 employees or more—accounted for 21.3 percent of the vacancies. Small firms—those with fewer than 10 employees—had 14.3 percent of the vacancies.
 
Forty-two percent of the openings were for part-time jobs (fewer than 35 hours per week) and 19 percent were for temporary or seasonal work. Forty-four percent required some level of post-secondary education or training beyond a high school degree, while 40 percent required related work experience. Fifty-five percent of the openings offered health insurance, and the median wage being offered was $11.06 per hour.
 
DEED conducts its job vacancy survey twice a year. For its latest report, it surveyed nearly 10,300 companies across the state in 20 industries.