Earlier this week, the Department of Employment and Economic Development released new findings from its Job Vacancy Survey, a biannual survey of employers on job vacancies and job opportunities in Minnesota. Here are some excerpts of the results of their study for the fourth quarter of 2007:
Greater Minnesota faces especially tough challenges: “There are 3.3 unemployed people for each job vacancy in the region.”
Job seekers in the Twin Cities face even more competition: “Almost 66 percent of all job vacancies—30,400—are located in the Twin Cities seven-county metropolitan area. Job vacancies are down 15.5 percent in the Twin Cities from one year ago. This means that there are 4.7 unemployed people for each job vacancy in the region.”
Some good news: Only 3.5% of employers said they planned to cut employment levels in the first six months of this year, almost 11% said they would increase their number of employees and the vast majority said employment levels would stay the same.
For more analysis of this new report, you should also check out the JOBS NOW Coalition!